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Singapore stocks: STI resumes Thursday afternoon at 3,377.13, up 0.26% on day

SINGAPORE stocks edged up as trading resumed on Thursday afternoon, with the Straits Times Index advancing 0.26 per cent or 8.69 points to 3,377.13 as at 1.01pm tracking minor gains in other Asian markets. 

Gainers outnumbered losers 174 to 153, or about eight securities up for every seven down, after 690.3 million securities worth S$447.4 million changed hands.

Among the most heavily traded by volume, P5 Capital Holdings advanced 45.8 per cent or S$0.011 to S$0.035 with 50.6 million shares traded. Golden Agri-Resources increased 1.7 per cent or US$0.005 to US$0.305 with 40.4 million shares traded. Yangzijiang Shipbuilding Holdings shed 1.3 per cent or S$0.02 to S$1.47 with 27.3 million shares traded.

Active index stocks included Singtel, down 0.6 per cent or S$0.02 to S$3.44; Wilmar International, down 2.5 per cent or S$0.10 to S$4.07. 

Banking stocks meanwhile, inched up, with DBS Group Holdings up 0.8 per cent or S$0.22 to S$26.87; OCBC Bank, up 0.1 per cent or S$0.01 to S$11.75; and United Overseas Bank, up 0.7 per cent or S$0.18 to S$26.98.

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Citi Envirotech shares were trading lower at S$0.30, down 0.5 Singapore cent or 1.6 per cent at 1.15pm. DBS Equity Research had downgraded its recommendation on Citic Envirotech with a target price of S$0.34 after the environmental engineering services company posted a bottom-line slump for the second quarter and the first half of fiscal 2019.

First Sponsor shares meanwhile was trading flat at S$1.31. The mainboard-listed property group had on Thursday reported a 24.7 per cent rise in net profit to S$15.1 million for the second quarter, from S$12.1 million a year ago, on the back of increased revenue from the sale of properties and hotel operations.

Cache Logistics Trust was trading 2.5 cents or 3.2 per cent lower at S$0.77, after posting a distribution per unit (DPU) of 1.321 Singapore cents for its second quarter ended June 30, down 6.9 per cent from 1.419 cents from the year-ago period. Net property income (NPI) fell 5.4 per cent to S$20.5 million for the quarter from S$21.6 million a year ago due to lower revenue and higher property expenses. 

Meanwhile, AIMS APAC Reit was trading at S$1.48, up one Singapore cent or 0.7 per cent. It had posted a DPU of 2.5 Singapore cents for its first quarter ended June 30, unchanged from the year-ago period. NPI grew 18.1 per cent to S$22.9 million, from S$19.4 million a year ago. 

Elsewhere in Asia, markets edged up, with Hong Kong and Tokyo were both up 0.3 per cent in early trade, while Shanghai was 0.2 per cent higher. In Australia, shares rose with the S&P/ASX 200 index up 0.4 per cent, while in New Zealand, the benchmark S&P/NZX 50 index rose 0.59 per cent.

 

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