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Straits Times
4 days ago
- Business
- Straits Times
Singapore stocks close higher amid regional gains; STI up 0.2%
The benchmark Straits Times Index rose 0.2 per cent or 9.5 points to 3,903.88. PHOTO: ST FILE SINGAPORE - Local stocks ended higher on June 4, mirroring regional gains after resilient US employment data bolstered investor sentiment. Speculations over a call between US President Donald Trump and China President Xi Jinping sometime this week to ease trade tensions added to the upbeat mood, although ramped-up tariffs on aluminium and steel US imports added trade uncertainty. The benchmark Straits Times Index (STI) rose 0.2 per cent or 9.5 points to 3,903.88. In the broader market, gainers beat losers 311 to 163 as one billion securities worth $1.2 billion changed hands. South Korea's Kospi led the region's gains, up 2.7 per cent after liberal candidate Lee Jae-myung won the presidency, ending months of political paralysis in the country. Hong Kong's Hang Seng Index increased 0.6 per cent. Japan's Nikkei 225 gained 0.8 per cent, while the Bursa Malaysia Kuala Lumpur Composite Index rose 0.3 per cent. Meanwhile, investors await Singapore's April retail sales data to be released on June 5. UOB's third-quarter outlook report on June 4 projects Singapore's economic growth in 2025 to moderate to 1.7 per cent, on a 'much weaker' second half-year as front-loading momentum dissipates. 'Payback from the earlier front-loading could result in a more protracted downturn in manufacturing and trade-related services into 2026, and we forecast GDP growth to slow further to 1.4 per cent,' noted UOB's global economics and market research team. On the STI, UOL led the gains, up 2.7 per cent or 16 cents to $6.02. Jardine Matheson was at the bottom of the list, down 2.3 per cent or US$1.02 to US$43.45. The trio of local banks ended mixed. DBS Bank went up 0.5 per cent or 21 cents to $45.01, and OCBC Bank gained 0.4 per cent or seven cents at $16.23. UOB was down 0.1 per cent or three cents to $35.30 on a cum dividend basis. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
4 days ago
- Business
- Business Times
Singapore stocks close Wednesday higher amid regional gains; STI up 0.2%
[SINGAPORE] Local stocks ended higher on Wednesday (Jun 4), mirroring regional gains after resilient US employment data bolstered investor sentiment. Speculations over a call between US President Donald Trump and China President Xi Jinping sometime this week to ease trade tensions added to the upbeat mood, although ramped-up tariffs on aluminium and steel US imports added trade uncertainty. The benchmark Straits Times Index (STI) rose 0.2 per cent or 9.5 points to 3,903.88. In the broader market, gainers beat losers 311 to 163 as one billion securities worth S$1.2 billion changed hands. South Korea's Kospi led the region's gains, up 2.7 per cent after liberal candidate Lee Jae-myung won the presidency, ending months of political paralysis in the country. Hong Kong's Hang Seng Index increased 0.6 per cent. Japan's Nikkei 225 gained 0.8 per cent, while the Bursa Malaysia Kuala Lumpur Composite Index rose 0.3 per cent. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Meanwhile, investors await Singapore's April retail sales data to be released on Thursday. UOB's Q3 outlook report published on Wednesday projects Singapore's economic growth in 2025 to moderate to 1.7 per cent, on a 'much weaker' second half-year as front-loading momentum dissipates. 'Payback from the earlier front-loading could result in a more protracted downturn in manufacturing and trade-related services into 2026, and we forecast GDP growth to slow further to 1.4 per cent,' noted UOB's global economics and market research team. On the STI, UOL led the gains, up 2.7 per cent or S$0.16 to S$6.02. Jardine Matheson was at the bottom of the list, down 2.3 per cent or US$1.02 to US$43.45. The trio of local banks ended Wednesday mixed. DBS went up 0.5 per cent or S$0.21 to S$45.01, and OCBC gained 0.4 per cent or S$0.07 at S$16.23. UOB was down 0.1 per cent or S$0.03 to S$35.30 on a cum dividend basis.
Business Times
14-05-2025
- Business
- Business Times
Singapore equities slide on Wednesday; STI declines 0.3%
[SINGAPORE] Local stocks finished lower on Wednesday (May 14), as investors took stock of the United States and China trade chatter. The benchmark Straits Times Index (STI) declined 0.3 per cent or 10 points to 3,871.05. Across the broader market, gainers beat losers 279 to 229, as 1.1 billion securities worth S$1.3 billion changed hands. Regional indices ended mostly higher. Hong Kong's Hang Seng Index climbed 2.3 per cent and South Korea's Kospi advanced 1.2 per cent. The Bursa Malaysia Kuala Lumpur Composite Index gained 0.1 per cent. Conversely, Japan's Nikkei 225 slid 0.1 per cent. Back home, STI was topped by defence and technology group ST Engineering , which added 1.4 per cent or S$0.10 to close at S$7.19. It recouped some losses from Tuesday, when it was the STI's biggest loser. Chang beer maker Thai Beverage was at the bottom of the index, falling 3 per cent or S$0.015 to S$0.48. Local banking stocks largely fell. DBS ticked slightly up by S$0.02 to S$44.25, while UOB declined 0.3 per cent or S$0.10 to S$35.27. OCBC dropped 1 per cent or S$0.17 to S$16.18. OCBC Investment Research's equity research team expects short-term volatility in the local markets to remain, but 'healthy fundamentals will continue to provide some support over the longer term'. 'Singapore banks should form a core part of a well-diversified portfolio as healthy yearly dividends and share buyback programmes should provide good price support – essentially in this environment of heightened trade and geopolitical tensions,' said the team in a note.
Straits Times
22-04-2025
- Business
- Straits Times
Singapore stocks rise as they continue to rally
Across the region, major indexes ended mixed following a weak start on Wall Street and the US dollar falling to a three-year low. ST PHOTO: BRIAN TEO Singapore stocks rise as they continue to rally SINGAPORE - Singapore stocks ended higher on April 22, even as other Asian markets delivered a mixed performance amid trade uncertainty. The benchmark Straits Times Index (STI) rose 1 per cent or 36.19 points to 3,795.41. Across the broader market, gainers outnumbered decliners 359 to 187, after 1.43 billion securities worth $1.48 billion changed hands. The top gainer on the index was offshore and marine specialist Seatrium. The counter rose 4.3 per cent or $0.08 to $1.96. Meanwhile, the biggest decliner was Yangzijiang Shipbuilding, which slid 1.8 per cent or $0.04 to $2.21. This comes after the counter had surged 9 per cent on April 21 after the US eased on proposed port fees on China-built vessels , and has been climbing since April 9, following news reports that the US might soften its stance. Yangzijiang had previously tumbled in February when the United States Trade Representative's office proposed a fee of up to US$1.5 million per port call on such ships . Singapore's trio of local banks continued their ascent on April 22 , with DBS Bank up 1 per cent or $0.43 at $41.85. OCBC Bank rose 0.8 per cent or $0.13 to $16.38, and UOB increased 0.7 per cent or $0.24 to $35.54. Across the region, major indexes ended mixed following a weak start on Wall Street and the US dollar falling to a three-year low. The Bursa Malaysia Kuala Lumpur Composite Index fell 0.9 per cent, Nikkei 225 slipped 0.2 per cent, and the Kospi was down 0.1 per cent. Meanwhile, the Hang Seng Index gained 0.8 per cent and the IDX Composite advanced 1.4 per cent. This comes as US President Donald Trump seeks to counter the economic fallout from trade tensions and immigration restrictions by pushing for looser financial conditions. However, international tensions escalated over the Easter weekend, with Beijing warning countries against striking agreements with Washington that could come at China's expense, noted Mr Jose Torres, senior economist at Interactive Brokers. 'President Trump's escalating demands for the Federal Reserve to lower rates are sparking market turbulence, and sending stocks and the greenback into free fall,' he added. Similarly, Bank of Singapore currency strategist Sim Moh Siong said that the decline in the US dollar has 'gained steam, and may continue amid concerns that the Fed's independence is at risk'. 'The triple combination of rising long-term interest rates, lower equities and a weaker currency is a very negative signal for the greenback,' he added. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
22-04-2025
- Business
- Business Times
Singapore stocks continue to rally on Tuesday; STI up 1%
[SINGAPORE] Singapore stocks ended higher on Tuesday (Apr 22), even as other Asian markets delivered a mixed performance amid trade uncertainty. The benchmark Straits Times Index (STI) rose 1 per cent or 36.2 points to 3,795.41. Across the broader market, gainers outnumbered decliners 359 to 187, after 1.4 billion securities worth S$1.5 billion changed hands. The top gainer on the index was offshore and marine specialist Seatrium . The counter rose 4.3 per cent or S$0.08 to S$1.96. Meanwhile, the biggest decliner was Yangzijiang Shipbuilding , which slid 1.8 per cent or S$0.04 to S$2.21. This comes after the counter had surged 9 per cent on Monday after the US eased port fees on China-built vessels, and has been climbing since Apr 9, following news reports that the US might soften its stance. Yangzijiang had previously tumbled in February when the United States Trade Representative's office proposed a fee of up to US$1.5 million per port call on such ships. Singapore's trio of local banks continued their ascent on Tuesday, with DBS up 1 per cent or S$0.43 at S$41.85. OCBC rose 0.8 per cent or S$0.13 to S$16.38, and UOB increased 0.7 per cent or S$0.24 to S$35.54. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Across the region, major indices ended mixed following a weak start on Wall Street and the US dollar falling to a three-year low. The Bursa Malaysia Kuala Lumpur Composite Index fell 0.9 per cent, Nikkei 225 slipped 0.2 per cent, and the Kospi was down 0.1 per cent. Meanwhile, the Hang Seng Index gained 0.8 per cent and the IDX Composite advanced 1.4 per cent. This comes as US President Donald Trump seeks to counter the economic fallout from trade tensions and immigration restrictions by pushing for looser financial conditions. However, international tensions escalated over the Easter weekend, with Beijing warning countries against striking agreements with Washington that could come at China's expense, noted Jose Torres, senior economist at Interactive Brokers. 'President Trump's escalating demands for the Federal Reserve to lower rates are sparking market turbulence, and sending stocks and the greenback into free fall,' he added. Similarly, Bank of Singapore currency strategist Sim Moh Siong said that the decline in the US dollar has 'gained steam, and may continue amid concerns that the Fed's independence is at risk'. 'The triple combination of rising long-term interest rates, lower equities and a weaker currency is a very negative signal for the greenback,' he added.
