STI closes 28.71 points higher amid mixed sentiment across the region

AMID mixed sentiment across the region, the benchmark Straits Times Index (STI) ended Wednesday at 2,648.90, up 28.71 points or 1.1 per cent.

Only four of the STI's 30 component stocks were down for the day. Among key index gainers were the property counters - UOL Group, City Developments (CDL) and CapitaLand, which ended the day up 2.96 per cent, 2.66 per cent and 2.11 per cent respectively.

While the ongoing Covid-19 pandemic does not bode well for residential property sales, hotel occupancy rates or commercial rents, these stocks are widely seen by analysts to continue to offer decent value for long-term investors.