Singapore shares end higher, led by gains in local banks; STI up 0.6%
Venture Corporation leads gainers on the blue-chip index
Singapore stocks closed higher on Oct 21, with the Straits Times Index (STI) up 0.6% at 5,437.99 points. Venture Corporation was the top gainer on the blue-chip index, rising 2.2% to S$15.75. Among the three local banks, DBS gained 0.3%, OCBC rose 1.2%, and UOB increased 1.4%. The iEdge Singapore Next 50 Index saw Yangzijiang Financial as the biggest gainer, up 4.2%, while StarHub was the largest decliner, falling 0.9%.
In total, 334 stocks gained compared to 214 that fell, with 965.2 million securities worth S$1.8 billion traded. CapitaLand Ascendas REIT was the most actively traded counter, with 56.7 million units changing hands, and DBS had the highest traded value at 4.3 million shares worth S$322.3 million. DBS Group Research noted concerns over US economic growth may persist, as high borrowing costs impact interest-rate-sensitive sectors like housing.
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