Singapore shares edge up amid mixed regional showing; STI gains 0.1%
DFI Retail Group leads gainers on the blue-chip index
Singapore stocks saw a slight increase on Thursday (Sep 3), with the benchmark Straits Times Index (STI) gaining 0.1 per cent or 3.6 points to close at 5,747.71. DFI Retail Group was the top performer among blue-chip stocks, rising 3.4 per cent to US$3.64. The worst performing STI constituent was Mapletree Pan Asia Commercial Trust, which dropped 2.4 per cent to US$1.22.
Among local banks, DBS rose 0.5 per cent to US$77.95, OCBC increased 0.2 per cent to US$31.92, while UOB declined 0.1 per cent to US$41.74. In the iEdge Singapore Next 50 Index, Pan-United Corp emerged as the best gainer at 4.4 per cent, while UltraGreen.ai suffered the biggest loss at 2 per cent. Across the broader market, losses outweighed gains 285 to 256, with a total of 1.3 billion securities valued at S$1.8 billion changing hands.
Addvalue Tech was the most actively traded stock by shares, while DBS led in terms of market value, with 4.3 million shares worth S$335.9 million traded. Other Asian markets also experienced mixed results, with Hong Kong's Hang Seng Index falling 0.4 per cent and Japan's Nikkei 225 declining 0.2 per cent. South Korea's Kospi rose 0.3 per cent, and the FTSE Bursa Malaysia KLCI advanced 0.4 per cent.
The Nikkei closed at its lowest point in a month due to uncertainty surrounding interest rates and currency fluctuations, causing investors to avoid risk assets. The yen surged 1.2 per cent against the US dollar following the central bank's hawkish stance, leading to declines in 30-year Japanese government bond yields and AI-related shares on the Nikkei.
Nigel Green, CEO of global financial advisory firm deVere Group, cautioned that the yen's sudden rise could have ripple effects on global equity markets, potentially concentrating bets on emerging-market bonds, multinational equities, and dollar-denominated assets.
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.
