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Straits Times
12 hours ago
- Business
- Straits Times
Singapore shares rise on Israel-Iran ceasefire and Wall St rally; STI up 0.7%
The benchmark Straits Times Index gained 0.7 per cent or 25.04 points to 3,904.3. PHOTO: LIANHE ZAOBAO Singapore shares rise on Israel-Iran ceasefire and Wall St rally; STI up 0.7% SINGAPORE - Local shares ended higher on June 24, tracking a rally on Wall Street after the US brokered a ceasefire in the conflict between Israel and Iran. The benchmark Straits Times Index (STI) gained 0.7 per cent or 25.04 points to 3,904.3. Across the broader market, gainers outnumbered losers 346 to 174, after 1.2 billion securities worth $1.4 billion changed hands. Elsewhere in Asia, key indexes largely closed higher. The Hang Seng Index rose 2.1 per cent, the Nikkei 225 gained 1.1 per cent and the Kospi was up 3 per cent. Meanwhile, the FTSE Bursa Malaysia KLCI lost 0.2 per cent. Mr James Ooi, market strategist at Tiger Brokers, said there were already signs of a relatively muted market impact from the Israel-Iran conflict, and investors now appear to be pricing in a potential extension of the ceasefire. But investors still need to remain cautious, he said. 'If the conflict re-escalates, particularly if oil prices spike again, it could reignite inflation fears and trigger renewed market volatility,' he said. In the meantime, market participants are likely to stay focused on larger macro drivers such as ongoing tariffs, deregulations, tax cuts, and US President Donald Trump's anticipated 'Big Beautiful Bill', he added. On the STI, Jardine Matheson Holdings was the top gainer, rising 2.3 per cent to US$46.35. Singtel was the biggest decliner, falling 1.5 per cent to $3.83. The local banks were up. DBS Bank gained 1 per cent to $44.30, OCBC Bank rose 1.4 per cent to $16.16 and UOB closed 1.6 per cent higher at $35.32. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
13 hours ago
- Business
- Business Times
Singapore shares rise on Israel-Iran ceasefire; STI up 0.7%
[SINGAPORE] Local shares ended higher on Tuesday (Jun 24), tracking a rally on Wall Street after the US brokered a ceasefire in the conflict between Israel and Iran. The benchmark Straits Times Index (STI) gained 0.7 per cent or 25.04 points to 3,904.3. Across the broader market, gainers outnumbered losers 346 to 174, after 1.2 billion securities worth S$1.4 billion changed hands. Elsewhere in Asia, key indices largely closed higher. The Hang Seng Index rose 2.1 per cent, the Nikkei 225 gained 1.1 per cent, while the Kospi Composite Index was up 3 per cent. Meanwhile, the FTSE Bursa Malaysia KLCI lost 0.2 per cent. James Ooi, market strategist at Tiger Brokers, said there were already signs of a relatively muted market impact from the Israel-Iran conflict, and investors now appear to be pricing in a potential extension of the ceasefire. But investors still need to remain cautious, Ooi said. 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 'If the conflict re-escalates, particularly if oil prices spike again, it could reignite inflation fears and trigger renewed market volatility,' he said. In the meantime, market participants are likely to stay focused on larger macro drivers such as ongoing tariffs, deregulations, tax cuts, and US President Donald Trump's anticipated 'Big Beautiful Bill', he added. On the STI, Jardine Matheson Holdings was the top gainer, rising 2.3 per cent to US$46.35. Singtel was the biggest decliner, falling 1.5 per cent to S$3.83. The local banks were up. DBS gained 1 per cent to S$44.30, OCBC rose 1.4 per cent to S$16.16, while UOB closed 1.6 per cent higher at S$35.32.
Yahoo
10-02-2025
- Business
- Yahoo
Nvidia Climbs Nearly 3% as Analysts Say DeepSeek Could Fuel GPU Demand
Nvidia (NASDAQ:NVDA) shares rose 2.79% to $133.47 as of 12:09 PM ET, as investors reacted to a new report suggesting DeepSeek might actually help, not hurt, Nvidia's GPU demand. Warning! GuruFocus has detected 3 Warning Signs with NVDA. James Ooi, a market strategist at Tiger Brokers, believes that while DeepSeek initially spooked investors, its lower computing power needs could open up more AI opportunities, ultimately benefiting Nvidia and other AI-related stocks. Nvidia's stock took a hit after DeepSeek's debut, but it's still up 85.53% over the past year, and investor confidence seems to be bouncing back. That said, Nvidia isn't in the clear. The biggest concern is that more AI companies are building their own chips rather than relying on Nvidia. Microsoft (MSFT) -backed OpenAI recently confirmed it's working on its first custom AI chip, which could ramp up competition. Even with these challenges, Nvidia's momentum heading into 2025 remains strong, and investors are watching closely to see if DeepSeek ends up driving even more demand for its GPUs. This article first appeared on GuruFocus. Sign in to access your portfolio
