Across the broader market, advancers beat decliners 315 to 191 after 1.5 billion securities worth S$1.4 billion change hands
[SINGAPORE] The benchmark Straits Times Index (STI) notched a new high on the first day of the trading week on Monday (Jul 14), after Singapore’s economy beat market expectations to expand 4.3 per cent year on year in the second quarter of this year.
The STI rose 0.5 per cent or 21.40 points to 4,109.21.
Across the broader market, advancers outnumbered decliners 315 to 191, after 1.5 billion securities worth S$1.4 billion were traded.
The top gainer on the benchmark index on Monday was DFI Retail Group, which rose 3.5 per cent or US$0.10 to US$2.98.
The day’s biggest decliner was Yangzijiang Shipbuilding. The counter fell 0.9 per cent or S$0.02 to S$2.30.
Casino operator Genting Singapore was the most actively traded counter by volume, with 47.4 million shares worth S$34.5 million traded. The counter closed flat at S$0.73.
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Regional exchanges ended mixed on Monday.
Japan’s Nikkei 225 was down 0.3 per cent and Australia’s ASX 200 fell 0.1 per cent. Meanwhile, Hong Kong’s Hang Seng Index was up 0.3 per cent, as was South Korea’s Kospi, which rose 0.8 per cent.
Paul Chew, head of research at Phillip Securities Research, noted that stock markets are at a record high, indicating market “nonchalance” over US President Donald Trump’s reciprocal tariffs, due to his propensity to constantly extend and soften tariffs.
“However, the rally in financial markets could backfire and embolden Trump to become more aggressive in his tariffs,” he said.
Chew added that in the current market, real estate investment trusts are attractive as the risk of trade war looms and interest rates in Singapore decline.
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