Singapore shares rise with Venture leading the way; STI up 0.6%

Singapore shares closed higher on Wednesday (Nov 11), buoyed by the strong performance of tech stocks after a recent market sell-off. The benchmark Straits Times Index (STI) gained 0.6 percent, or 31.07 points, to close at 5,289.66. Venture, a key player in the index, was the top gainer, surging 5.2 percent to S$15.31. The company reported a 21.9 percent increase in net profit for the three months ending Sep 30, driven by higher revenues from its technology business.

RHB upgraded its target price for Venture to S$21.97 from S$20.78, and the stock received a "buy" recommendation from the brokerage. DBS analyst Ling Lee Keng noted that Venture offered investors "an attractive value proposition" following the recent tech-sector sell-off. Among the STI constituents, Mapletree Pan-Asia Commercial Trust was the worst performer, falling 2.5 percent to S$1.15.

DBS, OCBC, and UOB were among the three local banks that ended higher on the day. Across the broader market, gainers outnumbered losers 324 to 242, with 1.2 billion securities valued at S$2.1 billion traded during the session. Key regional indices such as Hong Kong's Hang Seng Index, Japan's Nikkei 225, South Korea's Kospi, and the FTSE Bursa Malaysia KLCI showed mixed performance.