Singapore stocks end midweek trading day in the black, STI up 0.5%

LOCAL shares advanced further on Wednesday (Feb 9), as traders paid little heed to another 5-figure locally transmitted coronavirus case count on Tuesday, as well as any possible worries over inflation data.

The benchmark Straits Times Index booked a third consecutive day of gains thus far this week, rising 0.5 per cent or 18.3 points to close at 3,420.04. Across the broader market, daily turnover came in at 1.5 billion securities worth a collective S$1.4 billion, after advancers outnumbered decliners 324 to 179.

IG market strategist Yeap Jun Rong said a lot is riding on the upcoming US inflation data to ease some concerns about tightening ahead. An underperformance or matching of expectations may provide further relief, he noted. He added that Chinese stocks will be in focus on Wednesday, after state-backed funds were said to have entered the local market to provide support against recent declines.

Jardine Matheson Holdings J36 was the biggest decliner on the Singapore bourse, falling 2.3 per cent or US$1.42 to US$60.00.

Aviation-related counters were also among the few constituent decliners. Sats S58 was down 0.7 per cent or S$0.03 to S$4.02, while Singapore Airlines C6L shed 0.2 per cent or S$0.01 to S$5.32.

Thinly-traded Prudential k6s was the biggest advancer on the bourse, gaining 2.9 per cent or US$0.50 to US$17.80.

Other gainers for the day were DBS D05 , which rose 1.1 per cent or S$0.40 to S$36.98, and Venture Corporation V03 which added 1 per cent or S$0.18 to S$18.50.

The Place Holdings e27 was the most heavily traded stock, with some 51.4 million shares changing hands over the course of the day. The counter closed at S$0.081, up 8 per cent or S$0.006.

Other heavily traded counters were Jiutian Chemical C8R , Rex International 5WH and Disa Limited 532 .

Elsewhere in Asia, markets ended the day on a more upbeat note. The Nikkei 225 rose 1.1 per cent; the Hang Seng Index was up 2.1 per cent, and the KLCI added 1.4 per cent. The Kospi and SSE Composite Index each rose 0.8 per cent.