Singapore stocks track regional peers to close higher; STI up 0.5%

SINGAPORE shares tracked most regional peers to log gains on Friday (Feb 4), brushing off Wall Street's red ink overnight.

The Straits Times Index (STI) rose 0.47 per cent or 15.42 points to 3,331.41 for the day, outperforming the 30-month record high it made on Thursday.

The benchmark saw 2.62 per cent in gains for the week.

Index counter Sembcorp Industries rose 3 per cent or S$0.07 to S$2.41, a day after the conglomerate announced its India operations have inked a long-term contract for power supply to Bangladesh till May 2033.

Wilmar International ended 0.68 per cent or S$0.03 lower at S$4.37. The agribusiness company announced post-trading hours that its 50:50 fast-moving consumer goods joint venture Adani Wilmar has decided to price its initial public offering in India at 230 rupees per share.

Gainers beat decliners 286 to 190 in the Singapore broader market, with 1.64 billion securities worth S$1.33 billion changing hands.

Meanwhile, Hong Kong's Hang Seng Index closed 3.24 per cent higher at 24,573.29 points, and South Korea's Kospi Index rose 1.57 per cent to 2,750.26.

Japan's Nikkei 225 Index ended 0.73 per cent higher at 27,439.99, while Australia's S&P/ASX 200 climbed 0.6 per cent to 7,120.21.

However, Bursa Malaysia KLCI bucked the regional trend, closing 0.19 per cent lower at 1,522.76.