STI tracks Wall Street gains, rises 1.07%

SINGAPORE stocks took the cue from Wall Street overnight gains, and rallied together with several Asian markets on Wednesday.

A jump of 33.65 points or 1.07 per cent lifted the Republic's blue-chip benchmark to 3,182.90 points.

DBS benefited from the bullishness shown in the other two local banks, which on Aug 4 delivered stellar second-quarter financial results and raised their dividends after the cap on payout was recently removed by the regulator.

DBS gained 1.23 per cent to S$30.58; OCBC rose 1.80 per cent to S$12.46 and UOB was up 1.78 per cent to S$26.31. DBS releases its results on Aug 5.

Three Jardine companies closed down and were among the top losers, with Jardine Matheson Holdings losing 1.68 per cent to US$58.01, Dairy Farm International Holdings shedding 1.90 per cent to US$3.62, and Jardine Cycle & Carriage declining 0.79 per cent to S$20.09.

Gainers beat losers 294 to 210 on the broader market, with 1.68 billion securities worth S$1.52 billion transacted.

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Elsewhere in the region, Australia's S&P/ASX 200 closed 0.38 per cent higher at 7,503.18 points. The Shanghai Composite Index rose 0.85 per cent to 3,477.22 points, while Hong Kong's Hang Seng index was 0.88 per cent higher at 26,426.55 points. South Korea's Kospi climbed 1.34 per cent to 3,280.38 points,

Japan's Nikkei 225 dipped 0.21 per cent to 27,584.08 points, and the FTSE Bursa Malaysia Kuala Lumpur Composite Index closed down 0.6 per cent to 1,491.33 points.