Property developer Hongkong Land is the top gainer on the index, while Yangzijiang Shipbuilding fell the most
SINGAPORE stocks ended Monday (Feb 17) in the black, amid largely positive regional moves.
The benchmark Straits Times Index (STI) climbed 0.7 per cent or 27.35 points to 3,904.85.
Across the broader market, gainers beat losers 305 to 244, with 1.5 billion securities worth S$1.1 billion changing hands.
Key indices in the region gained ground. South Korea’s Kospi Composite Index rose 0.8 per cent, while the Nikkei 225 edged up 0.1 per cent. Hong Kong’s Hang Seng Index closed flat. However, the Bursa Malaysia Kuala Lumpur Composite Index lost 0.6 per cent.
These moves come after major US indices closed Friday largely muted.
Yeap Jun Rong, market strategist at IG, said: “Hotter-than-expected US inflation was largely shrugged off, as market participants took comfort in the details, with several components suggesting limited pass-through to the core personal consumption expenditures inflation.”
He added that a temporary delay in US tariff risks and renewed hopes for a Ukraine-Russia ceasefire added to the optimism as well.
On the STI, the top gainer was property developer Hongkong Land, which jumped 3.2 per cent or US$0.14 to US$4.49.
The biggest loser was maritime vessel maker Yangzijiang Shipbuilding, which fell 1.6 per cent or S$0.05 to S$3.09.
The trio of local banks closed higher. DBS rose 0.4 per cent or S$0.16 to S$45, OCBC advanced 1 per cent or S$0.18 to S$17.58, and UOB climbed 1.4 per cent or S$0.55 to S$38.61.
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