Singapore stocks rise on Thursday amid mixed regional trading, STI up 0.3%
[SINGAPORE] Local stocks ended higher on Thursday (Jun 26), amid mixed trading in the region.
The benchmark Straits Times Index (STI) rose 0.3 per cent or 12.48 points to 3,938.46. Across the broader market, gainers outnumbered losers 294 to 185, after 1.2 billion securities worth S$1.3 billion changed hands.
Key indices in the region ended mixed. The Hang Seng Index fell 0.6 per cent, and Kospi was down 0.9 per cent.
Meanwhile, the Nikkei 225 gained 1.7 per cent, and the FTSE Bursa Malaysia KLCI rose 0.6 per cent.
Market sentiments have rebounded as global economic conditions modestly improved amid tariff de-escalation, said Barnabas Gan, group chief economist and head of market research at RHB.
If this trend holds, expectations of fewer interest rate cuts, sustained risk-on appetite, and upward revisions to regional gross domestic product growth are reasonable, Gan said.
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But a key downside risk is the short time frame before reciprocal tariff suspensions expire, he noted.
'In this context, we maintain a tactical overweight in equities and market weight in fixed income through August, but remain ready to pivot back into safe havens should trade risks re-emerge,' he said.
On the STI, DFI Retail Group was the top gainer, rising 2.6 per cent to US$2.75.
ST Engineering had the biggest decline, losing 1 per cent to S$7.87.
The local banking trio were mixed. OCBC gained 0.2 per cent to S$16.23 and UOB rose 0.4 per cent to S$35.85, while DBS lost 0.4 per cent to S$44.42.
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