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Singapore stocks finish higher as North Korean worries recede
NORTH Korea's missile test over Japan on Tuesday raised the geopolitical risk level and lowered stock prices, but by the end of the week, markets had concluded that it was probably just another bout of sabre-rattling, much like several similar episodes over the past few years.
So it was that the Straits Times Index recovered all of its 18-points loss on Tuesday; Thursday's 12 points rise to 3,277.26 meant over the four trading days the index managed 18 points or 0.6 per cent gain.
Thursday's turnover was enhanced by heavy selling in Yanzijiang Shipbuilding after the company announced the private placement of 137 million shares at S$1.53 each and the market reacted to the news by sending the stock crashing S$0.13 or 8 per cent to S$1.495 on volume of 217.2 million.
The day's turnover amounted to 2.2 billion units worth S$1.5 billion and excluding warrants the advance-decline score was 217-181. YZJ's turnover was valued at S$331 million or 22 per cent of total value traded.