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Straits Times
a day ago
- Business
- Straits Times
Singapore stocks climb on overnight Wall Street rally; STI up 0.7%
Gainers outstripped losers 309 to 202 in the wider market. ST PHOTO: BRIAN TEO SINGAPORE – A buoyant session on Wall Street overnight gave local investors the signal to push shares higher on June 27 and end the week on a positive note. Robust trade of 1.8 billion securities worth $1.4 billion propelled the Straits Times Index (STI) up 0.7 per cent or 27.74 points to 3,966.2, with gainers outstripping losers 309 to 202. The Wall Street rally came as weaker-than-projected economic data coincided with news that President Donald Trump will announce a new US Federal Reserve chair earlier than expected, noted Interactive Brokers senior economist Jose Torres. 'The one-two punch of softer activity figures and the new leader of the central bank being named in September or October is bolstering rate cut wagers and sending the yield curve south,' he said. The optimism bolstered tech and finance shares and sent the S&P 500, Dow Industrials and Nasdaq up around 1 per cent but it failed to inspire all regional markets. Japan's Nikkei 225 gained 1.4 per cent and Malaysian stocks rose 0.6 per cent, but the Hang Seng in Hong Kong fell 0.2 per cent, the ASX 200 in Sydney declined 0.4 per cent and Seoul's Kospi was down 0.8 per cent. Meanwhile, software services provider Info-Tech Systems launched its initial public offering (IPO) of 24,856,000 shares at 87 cents apiece on June 27, marking the first Singapore mainboard listing in almost two years. Japanese telco Nippon Telegraph and Telephone also lodged an IPO prospectus to spin off some of its data centres into a Singapore-listed real estate investment trust that would likely be the largest S-Reit listing in a decade. Hongkong Land was the STI's top gainer, rising 3.4 per cent to US$5.84, while Sembcorp Industries was the biggest decliner, down 1 per cent to $6.83. The local banks ended higher: DBS gained 1 per cent to $44.86; OCBC rose 0.7 per cent to $16.35; and UOB added 0.4 per cent at $36. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
a day ago
- Business
- Business Times
Singapore stocks track overnight Wall Street gains on Friday; STI up 0.7%
[SINGAPORE] Local stocks tracked overnight Wall Street gains to end higher on Friday (Jun 27). The benchmark Straits Times Index (STI) rose 0.7 per cent or 27.74 points to 3,966.2. Across the broader market, gainers outnumbered losers 309 to 202, after 1.8 billion securities worth S$1.4 billion changed hands. Regional markets were mixed. The Nikkei 225 gained 1.4 per cent, the FTSE Bursa Malaysia KLCI rose 0.6 per cent and the IDX Composite was up 1 per cent. Meanwhile, the Hang Seng Index fell 0.2 per cent and the Kospi was down 0.8 per cent. In the US, markets rallied as weaker-than-projected economic data coincided with news that President Donald Trump will announce a new US Federal Reserve chair earlier than expected, said Jose Torres, senior economist at Interactive Brokers. 'The one-two punch of softer activity figures and the new leader of the central bank being named in September or October is bolstering rate cut wagers and sending the yield curve south in bull steepening fashion,' he 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 In Singapore, Ministry of Manpower data on Friday showed both job vacancies and unemployment rose in the first quarter of 2025, causing the ratio between them to stay unchanged. In the equities space, software services provider Info-Tech Systems on Friday launched its initial public offering (IPO) of 24,856,000 shares at S$0.87 each, marking the first Singapore mainboard listing in almost two years. Japanese telco Nippon Telegraph and Telephone also lodged an initial public offering prospectus to spin off some of its data centres into a Singapore-listed real estate investment trust (S-Reit), marking what is likely to be the largest S-Reit listing in a decade. On the STI, Hongkong Land is the top gainer, rising 3.4 per cent to US$5.84. Sembcorp Industries is the biggest decliner, falling 1 per cent to S$6.83. The local banks ended higher. DBS gained 1 per cent to S$44.86, OCBC rose 0.7 per cent to S$16.35, while UOB was up 0.4 per cent at S$36.
Straits Times
2 days ago
- Business
- Straits Times
Singapore stocks rise on June 26 amid mixed regional trading, STI up 0.3%
SINGAPORE – Shares here and elsewhere enjoyed sessions of relative calm on June 26 after a tumultuous period that has roiled global bourses. The outcome for the Straits Times Index (STI) was modest rise of 0.3 per cent or 12.48 points to 3,938.46 with gainers outpacing losers 294 to 185 on trade of 1.2 billion securities worth $1.3 billion. The muted theme was set overnight on Wall Street where investors were growing increasingly confident about the Israel-Iran cease-fire. The key indexes were mixed but are still hovering at near record levels. The S&P 500 was unchanged, the Dow industrials fell 0.2 per cent while the Nasdaq inched up 0.3 per cent. There was more movement in the region. The Hang Seng in Hong Kong fell 0.6 per cent and the Kospi in Seoul declined 0.9 per cent but the Nikkei 225 in Tokyo surged 1.7 per cent while Malaysian shares rose 0.6 per cent. Australia's ASX 200 closed flat as investors dumped technology and property stocks. Mr Barnabas Gan, group chief economist and head of market research at RHB, noted that market sentiment has rebounded as global economic conditions modestly improved amid tariff de-escalation. If this trend holds, it would be reasonable to expect fewer interest rate cuts, a more sustained appetite for risk and upward revisions to regional economic growth, Mr Gan added. But he warned that it is only a short period before reciprocal tariff suspensions expire. 'In this context, we maintain a tactical overweight in equities and market weight in fixed income ... but remain ready to pivot back into safe havens should trade risks re-emerge,' he said. Meanwhile, DFI Retail Group was STI's the top gainer, rising 2.6 per cent to US$2.75, while ST Engineering led the losers, down 1 per cent to $7.87. Local banks were mixed: OCBC gained 0.2 per cent to $16.23; UOB rose 0.4 per cent to $35.85; but DBS lost 0.4 per cent to $44.42. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
2 days ago
- Business
- Business Times
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. 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 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.
Straits Times
3 days ago
- Business
- Straits Times
Singapore shares rise, tracking regional gains; STI up 0.6%
The optimism here sent the benchmark STI up 0.6 per cent or 21.68 points to 3,925.98 with gainers easily outpacing losers 333 to 170 on robust trade of 1.5 billion securities worth $1.5 billion. PHOTO: ST FILE SINGAPORE – The stability of the cease-fire between Israel and Iran has plenty of sceptics but there were enough true believers across major regional markets to drive shares higher on June 25. The optimism here sent the benchmark Straits Times Index (STI) up 0.6 per cent or 21.68 points to 3,925.98 with gainers easily outpacing losers 333 to 170 on robust trade of 1.5 billion securities worth $1.5 billion. Wall Street set the direction of travel overnight, where stocks put on gains after the cease-fire seemed to hold firm. The tech-focused Nasdaq led the way, surging 1.4 per cent, while the Dow Industrials rose 1.2 per cent and the S&P 500 advanced 1.1 per cent and is now within touching distance of the record close recorded in February. Oil prices went the other way, falling 6 per cent, and are now below the level when fighting began earlier this month. Regional bourses mostly followed in similar fashion. Japan's Nikkei 225 was up 0.4 per cent, the Hang Seng in Hong Kong gained 1.2 per cent and South Korea's Kospi rose 0.2 per cent. Australian stocks swung between gains and losses throughout the day and ended virtually flat. Mr Nigel Green, chief executive of global financial advisory company deVere Group, noted 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. Meanwhile, the STI's top gainer was the Singapore Exchange, which climbed 3.7 per cent to $14.41, while the losers were led by Yangzijiang Shipbuilding, down 1.4 per cent to $2.19. CapitaLand Integrated Commercial Trust was the most actively traded blue-chip counter by volume, with 90.5 million units changing hands. The units closed at $2.15, up 0.5 per cent. THE BUSINESS TIMES Join ST's Telegram channel and get the latest breaking news delivered to you.
