SINGAPORE shares closed Friday (Oct 4) in the black, ahead of the US jobs data for September.
The benchmark Straits Times Index (STI) climbed 0.3 per cent or 11.7 points to 3,589.13. Across the broader market, gainers outnumbered losers 351 to 225, with 1.7 billion securities worth S$1.5 billion changing hands.
Regional indices mostly finished higher. Hong Kong’s Hang Seng Index climbed 2.8 per cent, South Korea’s Kospi Composite Index rose 0.3 per cent, and Japan’s Nikkei 225 edged up 0.2 per cent. In contrast, the Bursa Malaysia Kuala Lumpur Composite Index fell 0.7 per cent.
Despite these movements, Stephen Innes, managing partner at SPI Asset Management, noted that risk-averse traders are “hesitant to make bold moves”.
“Asian stocks and bonds are stuck to narrow ranges, awaiting the US jobs data (on Friday) to light a fire under interest rate expectations,” he said.
Back home, offshore and marine player Seatrium led gains on the STI, surging 12.3 per cent or S$0.22 to S$1.99.
This comes after the company announced on Thursday that its chief executive Chris Ong had been granted 2.2 million of the group’s shares under its performance and restricted share plans on May 31 this year.
At the bottom of the index was Mapletree Pan Asia Commercial Trust, which lost 1.3 per cent or S$0.02 to S$1.51.
The trio of local banks finished mixed. DBS was up 0.5 per cent or S$0.20 at S$38.04, while UOB gained 0.5 per cent or S$0.15 to S$31.86. OCBC slipped 0.2 per cent or S$0.03 to S$14.89.
