Singapore shares end higher on Tuesday; STI up 1%
Across the broader market, gainers beat losers 327 to 281, as 1.6 billion securities worth S$3.6 billion change hands
Singapore stocks closed higher on Tuesday (Aug 11) as the broader market saw more gainers than losers, with the Straits Times Index (STI) surging 1% or 55.74 points to reach 5,754.17. Yangzijiang Shipbuilding led the index's winners, surging 11% or S$0.46 to S$4.66, continuing its earnings rally following a 28.4% increase in first-half net profit to 5.4 billion yuan (US$800 million) on Aug 7.
The biggest loser among STI components was Singapore Airlines, which dropped 5.9% or S$0.45 to S$7.15. Local banks DBS and OCBC posted gains of 0.9% and 3.5% respectively, while UOB closed 2.6% lower. Across the broader market, 1.6 billion securities valued at nearly S$3.6 billion changed hands, with Yangzijiang Financial leading the iEdge Singapore Next 50 Index with a 9.5% rise, and Lendlease Global Commercial Real Estate Investment Trust facing the largest loss at 3.4%.
Regional indices were mixed, with Hong Kong's Hang Seng Index down 1.1% and the FTSE Bursa Malaysia KLCI slipping 0.2%, while South Korea's Kospi rose 0.7%. Analysts from Julius Baer remain optimistic about semiconductors and large software companies, believing infrastructure will provide time for software providers to adapt to potential disruptions from artificial intelligence.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
