Singapore shares rise, tracking regional gains; STI up 0.6%
[SINGAPORE] Shares on the Singapore bourse closed higher on Wednesday (Jun 25), in line with gains across regional markets as the ceasefire between Iran and Israel held firm.
The benchmark Straits Times Index (STI) rose 0.6 per cent or 21.68 points to 3,925.98.
Across the broader market, advancers outnumbered decliners 333 to 170, after 1.5 billion securities worth S$1.5 billion were traded.
The top gainer on the STI was the Singapore Exchange , which climbed 3.7 per cent or S$0.51 to S$14.41.
The biggest decliner was Yangzijiang Shipbuilding . The counter fell 1.4 per cent or S$0.03 to S$2.19.
CapitaLand Integrated Commercial Trust was the most actively traded blue-chip counter by volume, with 90.5 million units worth S$193 million changing hands. The counter closed at S$2.15, up 0.5 per cent or S$0.01.
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Regional bourses were mostly in the black on Wednesday.
Japan's Nikkei 225 was up 0.4 per cent, Hong Kong's Hang Seng Index gained 1.2 per cent and South Korea's Kospi rose 0.2 per cent.
In a note on Wednesday, Nigel Green, the chief executive of global financial advisory company deVere Group, said that global markets were 'dangerously relaxed' over the wider global risk of the conflict between Iran and Israel.
For instance, equity markets are not showing the 'defensive rotation' expected of investors when there are many risk indicators.
He called on investors to adjust their allocations to provide more downside protection and global diversification.
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