Singapore stocks rise on Friday; STI up 0.3%
City Developments leads the gainers on the blue-chip index
Singapore stocks closed higher on Friday, August 21, with the Straits Times Index (STI) surging 0.3% or 17.05 points to reach 5,688.96. City Developments led the gains in the blue-chip index, advancing 1.7% to S$8.25. The ST Engineering underperformed, slipping 1.6% to S$10.68. Among the local banks, DBS gained 0.2% to S$76, OCBC rose 0.7% to S$30.98, and UOB increased 0.8% to S$40.53.
In the iEdge Singapore Next 50 Index, First Resources led with a 3.3% gain, while UltraGreen.ai suffered a 14.8% decline. The broader market saw more winners than losers, with 322 stocks up compared to 242 down, after 1.1 billion securities valued at S$2 billion changed hands. International Cement Group was the most actively traded stock, while DBS saw the highest value traded at 3.4 million shares worth S$255.8 million.
Other regional indices were mixed, with Hong Kong's Hang Seng Index up 1.2%, South Korea's Kospi rising 0.9%, Japan's Nikkei 225 falling 0.3%, and the FTSE Bursa Malaysia KLCI down 0.01%. Stephen Innes, managing partner at SPI Asset Management, highlighted the impact of the US Treasury's plan to increase the size of buybacks of longer-dated debt, suggesting a softer US dollar could ease financial conditions in the region and encourage capital flow into equities.
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.
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