Singapore, Asia markets end higher on Monday; STI up 0.3%
Across the broader market, decliners beat advancers 282 to 262, as 1.2 billion securities worth S$1.6 billion change hands
Singapore's stocks closed positively on Monday (Sep 21) as broader Asia markets showed a favorable trend. The Straits Times Index (STI) rose 0.3 percent, or 19.12 points, to reach 5,675.23. Across the broader market, there were 282 decliners versus 262 advancers, with a total of S$1.6 billion worth of securities trading hands. DFI Retail Group emerged as the top performer on the blue-chip index, surging 3.2 percent or US$0.10 to US$3.22.
The STI's worst performer was Seatrium, which dropped 3.3 percent or S$0.07 to S$2.05. All three local banks – DBS, OCBC, and UOB – finished higher, with DBS up 0.7 percent, OCBC up 0.9 percent, and UOB up 0.8 percent. AEM topped gains within the iEdge Singapore Next 50 Index, increasing 5.7 percent, while Food Empire saw the steepest decline, falling 10 percent.
Fixed-income strategist Alex Rohner observed that industrials in equities have underperformed globally, despite macroeconomic momentum. He attributed this to exhaustion in AI-related stocks and higher oil and fuel prices affecting airlines and transportation. Rohner anticipates further US Federal Reserve rate hikes, potentially easing the current headwinds, especially with the US and European economies remaining robust.
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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