Republic’s non-oil domestic exports in December are up 9% on year, beating expectations
SINGAPORE stocks ended higher on Friday (Jan 17), after the Republic released buoyant key exports data for December.
The benchmark Straits Times Index (STI) gained 0.3 per cent or 9.65 points to 3,810.78.
Across the broader market, gainers beat losers 271 to 183, with 977.1 million securities worth S$1.1 billion changing hands.
STI constituent Genting Singapore was the most actively traded stock, with 41.8 million shares worth S$31.3 million changing hands throughout the day. The counter added 0.7 per cent or S$0.005 to end at S$0.745.
Industrial and urban solutions provider Sembcorp Industries was the top gainer on the STI, climbing 1.3 per cent or S$0.07 to S$5.63.
The blue-chip barometer was dragged by maritime vessel maker Yangzijiang Shipbuilding, which fell 2.7 per cent or S$0.08 to S$2.93.
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Banking stocks ended mixed. UOB slipped 0.1 per cent or S$0.03 to S$37.03, DBS was up 0.2 per cent or S$0.07 at S$43.85, and OCBC rose 0.6 per cent or S$0.10 to S$17.12.
On Friday, data from Enterprise Singapore showed that the country’s non-oil domestic exports in December rose 9 per cent year on year, beating the expectations of private-sector economists.
Nomura economists said the strong showing “supports our view that the government’s advance estimate of manufacturing sector growth in the fourth quarter is too cautious amid the continued global tech uptrend”. They added that an upward revision of Singapore’s final Q4 gross domestic product in 2024 is possible.
Regional indices were varied. Japan’s Nikkei 225 closed down 0.3 per cent, South Korea’s Kospi fell 0.2 per cent, Hong Kong’s Hang Seng rose 0.3 per cent, and the Bursa Malaysia Kuala Lumpur Composite Index climbed 0.7 per cent.
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