Across the broader market, gainers beat losers 307 to 224, after 1.5 billion securities worth S$1.8 billion change hands
[SINGAPORE] Stocks on the Singapore bourse ended higher on Wednesday (Mar 12) amid mixed performance in the region.
The benchmark Straits Times Index (STI) climbed 0.2 per cent or 7.24 points to 3,833.07. Across the broader market, gainers beat losers 307 to 224, after 1.5 billion securities worth S$1.8 billion were traded.
The top gainer on the index was DFI Retail Group, which rose 8.6 per cent or US$0.18 to US$2.28.
The biggest decliner was national carrier Singapore Airlines. The counter slid 1.6 per cent or S$0.11 to S$6.65.
Resort and casino operator Genting Singapore was the most actively traded counter by volume among the STI constituents, with 53.4 million shares worth S$38.9 million changing hands. The counter was up 0.7 per cent or S$0.005 at S$0.725.
Markets across the region ended mixed following a sell-off the day before.
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Japan’s Nikkei 225 was up 0.1 per cent while South Korea’s Kospi climbed 1.5 per cent. However, Australia’s ASX 200 fell 1.3 per cent and Hong Kong’s Hang Seng lost 0.8 per cent.
Yeap Jun Rong, market strategist at IG, said the release on Wednesday of the US consumer price index for February, which provides a measure of inflation rates, would be “the focal point” for markets.
He noted that US headline inflation is expected to ease to 2.9 per cent from 3 per cent in January. While the inflation rate in January came in higher than expected, he said an inflation reading closer to consensus would likely offer some calm for global markets by signalling US economic resilience.
“With prevailing concerns over a US growth slowdown persisting, any significant surprise in inflation data could potentially see renewed market volatility on recession or stagflation fears,” said Yeap.
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