Singapore shares rise on Monday; STI up 0.4%
Keppel leads the gainers on the blue-chip index
On Monday (Aug 17), Singapore stocks closed higher, with the Straits Times Index (STI) climbing 0.4 percent or 24.87 points to 5,768.46. Keppel Corporation led the gainers on the blue-chip index, surging 3 percent or S$0.34 to S$11.51. Among STI components, Wilmar International experienced the steepest decline, dropping 2.1 percent or S$0.08 to S$3.67. Three of Singapore's local banks finished mixed, with DBS up 1.8 percent, OCBC down 0.8 percent, and UOB down 1.6 percent.
In the iEdge Singapore Next 50 Index, CSE Global emerged as the top performer, increasing 8.9 percent or S$0.11 to S$1.35, while PC Partner recorded the steepest loss, falling 5.3 percent or S$0.17 to S$3.06. Overall, the broader market saw more winners than losers, with 343 stocks up compared to 255 down, as 1.3 billion shares valued at S$1.9 billion traded.
International Cement was the most actively traded stock, with 107.6 million shares exchanged. DBS had the highest trading volume in terms of value, with 3.1 million shares worth S$236.2 million changing hands.
Regional indices were mixed globally, with Hong Kong's Hang Seng Index rising 1.3 percent and Japan's Nikkei 225 gaining 0.7 percent. The FTSE Bursa Malaysia KLCI, however, declined by 0.1 percent. Market analysts noted that while global markets remained optimistic, the rally was becoming increasingly selective in regions, sectors, and asset classes.
Financial institutions, energy, and healthcare led US sector momentum, while Greater China and rate-sensitive areas were more vulnerable. Singapore was identified as the strongest Asian setup within the momentum framework, according to CGS International market note.
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.
