STI snaps 6-day loss streak, gains 1.9%

THE Straits Times Index (STI) snapped its 6-day losing streak on Wednesday (Dec 1), gaining 1.9 per cent or 56.96 points to close at 3,098.25.

Decliners narrowly beat advancers 237 to 230, with 1.33 billion shares worth S$1.78 billion changing hands.

Most Asian markets were also mixed. Oanda senior market analyst Jeffrey Halley noted that the rise in US index futures took the edge off regional losses.

Japan's Nikkei 225 index rose 0.4 per cent, South Korea's Kospi climbed 2.1 per cent and Hong Kong's Hang Seng Index rose 0.8 per cent. Meanwhile, Malaysia's Kuala Lumpur Composite Index fell 1.1 per cent and Indonesia's Jakarta Composite Index fell 0.4 per cent.

"Tomorrow is another day though, and I have no doubt that another (Omicron) headline will have the mindless herd we call the financial markets, stampeding the other way," Halley said, adding that volatility will remain in December as markets grapple with Omicron's impact on economies.

The STI's top gainer was DBS D05 , which gained 5.1 per cent, or S$1.51 to close at S$31.38.

OCBC O39 gained 2.6 per cent, or S$0.29 to close at S$11.27, while UOB U11 closed at S$26.13, up 2.6 per cent or S$0.66.

At the bottom of the table was Dairy Farm International D01 , which fell 2.6 per cent or US$0.08 to close at US$3.04.

The most heavily traded counter by volume on the Singapore Exchange was Hatten Land PH0 . Its shares closed at S$0.053, down S$0.002 or 3.6 per cent.