Singapore stocks rise for third straight day; STI up 0.4%

SINGAPORE stocks rose for a third consecutive day on Thursday (Apr 21), tracking the positive performance seen in most Asian markets.

The benchmark Straits Times Index (STI) rose 0.4 per cent or 13.14 points to close at 3,348.46.

Singtel and SATS were among the top index gainers, with both counters rising 2.3 per cent. Jardine Cycle & Carriage shares ended as Thursday’s top index performer, having risen 5.4 per cent to close at S$26.87, triggering a query from the market regulator on trading activity. 

Meanwhile, shares of Dairy Farm International were the top decliner on the STI, shedding 1.8 per cent to close at US$2.72. HongkongLand and Jardine Matheson were also among the top decliners for the day, each falling 1 per cent.

Across the broader market, decliners outnumbered gainers 246 to 245 after 1.5 billlion securities worth S$1.3 billion changed hands

Geo Energy Resources was among the most active counters by volume, rising 4.5 per cent to S$0.58 after 42.2 million shares worth S$23.7 million were traded.

 Elsewhere in the region, key indices in Japan, South Korea, Australia and Malaysia also ended Thursday higher, rising between 0.3 and 1.2 per cent. 

However, equities in China and Hong Kong bucked the trend, with the Shanghai Composite falling 2.3 per cent; the Hang Seng Index fell 1.3 per cent.

Oanda senior market analyst Jeffrey Halley said: “China’s markets continue to underperform, weighed down by growth fears and the Covid-zero policy on the mainland, while US delisting fears on dual-listed equities continue to hamstring Hong Kong markets as well.”