Singapore shares rise with Venture leading the way; STI up 0.6%
Across the broader market, gainers outnumber losers 324 to 242
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.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
- Singapore shares rise with Venture leading the way; STI up 0.6% businesstimes.com.sg