Across the broader market, gainers beat losers 326 to 168, as 926.3 million securities worth S$1 billion change hands
SINGAPORE stocks finished Thursday (Jan 16) in positive territory, tracking gains of regional peers.
The benchmark Straits Times Index (STI) rose 0.8 per cent or 28.55 points to 3,801.13.
The gains on the index were led by offshore and marine company Seatrium, which added 3.2 per cent or S$0.07 to close at S$2.26. Meanwhile, integrated resort operator Genting Singapore weighed on the index, declining 1.3 per cent or S$0.01 to S$0.74.
The three local banks ended higher. DBS was up 0.6 per cent or S$0.28 at S$43.78, OCBC gained 0.9 per cent or S$0.15 to S$17.02, and UOB climbed 1.3 per cent or S$0.48 to S$37.06.
Across the broader market, gainers beat losers 326 to 168, after 926.3 million securities worth S$1 billion changed hands.
Most key indices in the region were in the black on Thursday. Hong Kong’s Hang Seng Index and South Korea’s Kospi Composite Index both closed up 1.2 per cent. Japan’s Nikkei 225 ended 0.3 per cent higher.
However, the Bursa Malaysia Kuala Lumpur Composite Index fell 0.4 per cent.
IG market strategist Yeap Jun Rong said market expectations “are increasingly focused” on a 25-basis-point rate hike by the Bank of Japan at its two-day meeting that starts on Jan 23, which could see the policy rate raised to 0.5 per cent after a four-meeting pause.
“A surprise decision to hold rates steady at the upcoming meeting could trigger an initial sell-off in the Japanese yen, but that could be counterbalanced by a slightly hawkish tone from policymakers to mitigate the currency’s decline,” he added.
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