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Singapore stocks post muted performance; STI down 0.1%

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SINGAPORE – Local shares muddled through another day of flattish trading on Wednesday amid a mixed showing across the region following Wall Street’s lacklustre performance overnight.

The lukewarm session left the benchmark Straits Times Index (STI) down just 0.1 per cent, or 3.34 points to 3,242.46.

Gainers just beat losers 286 to 267 across the broader market with 1.3 billion shares worth $993.7 million traded.

Regional markets also struggled for direction in the new year and closed mixed.

Japan’s Nikkei 225 fell 1.5 per cent, the Jakarta Composite dropped 1.1 per cent and the Kuala Lumpur Composite slipped 0.3 per cent but others fared far better.

South Korea’s Kospi gained 1.7 per cent and the Hang Seng in Hong Kong jumped 3.2 per cent.

Australian stocks rebounded from a 1.3 per cent dive on Tuesday to surge 1.6 per cent, their biggest one-day advance in two months.

The hot and cold showing came after Wall Street dipped on Tuesday, with big guns like Tesla and Apple taking a hit.

SPI Asset Management managing partner Stephen Innes said there appears to be divergent performances among the markets.

He noted that the Hang Seng led the bullish “risk on” momentum across the region, as Alibaba affiliate Ant Group received approval from Chinese authorities to increase its registered capital to 18.5 billion yuan (S$3.6 billion) from eight billion yuan.

Still, he added that the Bank of Japan conducted a fourth day of unscheduled bond purchases on Wednesday to limit the rise in yields, which could have dampened market sentiment.

The top performer on the STI was DFI Retail Group, which gained 2.8 per cent to close at US$2.94.

Yangzijiang Shipbuilding was at the bottom of the table, falling 6.3 per cent to $1.20.

The trio of banks also ended the day mixed.

DBS gained 0.4 per cent to $34.02, OCBC added 0.4 per cent to $12.29 but UOB shed 0.8 per cent to $30.46. THE BUSINESS TIMES


SINGAPORE – Local shares muddled through another day of flattish trading on Wednesday amid a mixed showing across the region following Wall Street’s lacklustre performance overnight.

The lukewarm session left the benchmark Straits Times Index (STI) down just 0.1 per cent, or 3.34 points to 3,242.46.

Gainers just beat losers 286 to 267 across the broader market with 1.3 billion shares worth $993.7 million traded.

Regional markets also struggled for direction in the new year and closed mixed.

Japan’s Nikkei 225 fell 1.5 per cent, the Jakarta Composite dropped 1.1 per cent and the Kuala Lumpur Composite slipped 0.3 per cent but others fared far better.

South Korea’s Kospi gained 1.7 per cent and the Hang Seng in Hong Kong jumped 3.2 per cent.

Australian stocks rebounded from a 1.3 per cent dive on Tuesday to surge 1.6 per cent, their biggest one-day advance in two months.

The hot and cold showing came after Wall Street dipped on Tuesday, with big guns like Tesla and Apple taking a hit.

SPI Asset Management managing partner Stephen Innes said there appears to be divergent performances among the markets.

He noted that the Hang Seng led the bullish “risk on” momentum across the region, as Alibaba affiliate Ant Group received approval from Chinese authorities to increase its registered capital to 18.5 billion yuan (S$3.6 billion) from eight billion yuan.

Still, he added that the Bank of Japan conducted a fourth day of unscheduled bond purchases on Wednesday to limit the rise in yields, which could have dampened market sentiment.

The top performer on the STI was DFI Retail Group, which gained 2.8 per cent to close at US$2.94.

Yangzijiang Shipbuilding was at the bottom of the table, falling 6.3 per cent to $1.20.

The trio of banks also ended the day mixed.

DBS gained 0.4 per cent to $34.02, OCBC added 0.4 per cent to $12.29 but UOB shed 0.8 per cent to $30.46. THE BUSINESS TIMES

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