Singapore stocks kick off week in the black, STI up 0.4%

LOCAL shares began the week on a more upbeat note following a positive handover from Wall Street indices last week.

The benchmark Straits Times Index rose 0.4 per cent or 12.13 points to finish Monday (Nov 15) at 3,240.58. Across the broader market, advancers outpaced decliners 244 to 211, after 1.9 billion securities worth S$1.1 billion changed hands.

IG market strategist Yeap Jun Rong said traders are likely to be keeping a close watch over the series of economic data from China, which includes its industrial production, retail sales and fixed asset investment.

The relationship between the US and China will also be in focus, he noted. "Previous indications of both parties' intention to cooperate may set a positive tone for the meeting, but any negative surprise from the event may potentially add new risks to markets."

A number of tech plays were among the biggest gainers on Monday. iFast Corporation AIY rose 1.6 per cent or S$0.14 to S$8.86; AEM AWX added 2.3 per cent or S$0.11 to S$4.89, while Venture Corporation V03 gained 0.5 per cent or S$0.09 to S$19.14.

Singapore Exchange market strategist Geoff Howie said 4 of the 6 most traded tech counters - AEM, UMS, Frencken and ISDN - had provided Q3 FY21 business updates last week. "All 4 stocks acknowledged strong demand for semiconductors," he said in a note on Monday.

The trio of local lenders were also among the strongest performers. DBS D05 advanced 0.5 per cent or S$0.15 to S$32.19, UOB U11 gained 0.4 per cent or S$0.11 to S$27.68, and OCBC O39 rose 0.6 per cent or S$0.07 to S$11.87.

Thinly-traded Shinvest Holding BJW was the biggest loser on Monday. The counter fell 7.4 per cent or S$0.25 to S$3.14.

Hatten Land PH0 , which announced on Sunday (Nov 14) that it had narrowed its Q1 loss to RM16 million (S$5.2 million) from RM16.6 million in the year-ago period, was one of the most actively-traded stocks on Monday as investors piled into the counter. Hatten Land finished the day at 6.6 Singapore cents, up 6.5 per cent or 0.4 cent with 101.1 million shares changing hands over the course of the day.

Other actively traded stocks were penny stock Shen Yao Holdings A78 , Sembcorp Marine S51 and Oceanus Group 579 .

Elsewhere in Asia, markets mostly ended Monday's trading session in the black. The Nikkei 225 rose 0.6 per cent; the Hang Seng Index added 0.3 per cent, and the Kospi gained 1 per cent. The KLCI, however, dipped 0.6 per cent.