Across the broader market, 319 losers beat 254 gainers, with 1.2 billion securities worth S$1.3 billion changing hands
SINGAPORE equities finished Friday (Nov 15) higher, extending two days of gains.
The benchmark Straits Times Index (STI) climbed 0.2 per cent or 6.54 points to 3,744.7.
Across the broader market, 319 losers beat 254 gainers, with 1.2 billion securities worth S$1.3 billion changing hands.
Key regional indices were varied. Japan’s Nikkei 225 ended 0.3 per cent higher, while South Korea’s Kospi Composite Index edged down 0.1 per cent. The Bursa Malaysia Kuala Lumpur Composite Index lost 0.5 per cent and Hong Kong’s Hang Seng Index ended flat.
Eastspring Investments chief investment officer Vis Nayar said that recent stimulus from China has seen equity markets “rally spectacularly” from the third to fourth quarter, although this followed a “pretty disappointing” preceding couple of years for stock prices.
“While many observers are keen for more fiscal stimulus from the government to try and encourage a stubbornly-saving consumer into the market, this focus does ensure that China remains part of the ‘Asia dialogue’, critical given its size in the Asia and Emerging Market indices,” he said.
Back home, the STI was dragged by real estate investment trust (Reit) CapitaLand Ascendas Reit, which fell 1.9 per cent or S$0.05 to S$2.57. This comes after it announced that it will acquire a land parcel in the US to develop into a logistics property for about S$94.8 million.
The top performer was technology service provider Venture Corporation, which rose 3.1 per cent or S$0.38 to S$12.79.
The trio of local banks ended mixed. DBS fell 0.2 per cent or S$0.08 to S$42.94, while OCBC slid 0.2 per cent or S$0.03 to S$16.44. UOB, meanwhile, rose 1 per cent or S$0.37 to S$36.37.
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