STI inches up 0.1%, bucking regional trend as oil continues surge
Brent hits US$110 a barrel as Iran-backed Houthis seize key Red Sea port
Singapore stocks ended higher on Friday, despite regional markets slumping due to renewed tensions in the Middle East. The Straits Times Index (STI) gained 0.1 percent, finishing at 5,695.93 points. OCBC led the index's gainers with a 0.7 percent rise, while DBS and UOB also ended in positive territory. The largest loser among STI constituents was DFI Retail Group, with a 3.1 percent drop.
Within the iEdge Singapore Next 50 Index, Top Glove was the top gainer, while Riverstone saw the biggest decline. Oil prices surged to $110 a barrel due to Houthi seizure of a key Red Sea port, causing a broader market decline.
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