Singapore shares rise as tariff concerns fade; STI up 0.4%

Across the broader market, gainers beat losers 352 to 186, after 1.3 billion securities worth S$1.1 billion change hands

BUOYED by fading concerns about the economic threat posed by US President Donald Trump’s tariffs along with an overnight Wall Street rally, Singapore shares closed higher on Thursday (Feb 6).

The benchmark Straits Times Index (STI) was up 0.4 per cent or 15.05 points at 3,830.42.

Gainers beat losers 352 to 186 across the broader market, after 1.3 billion securities with a total value of S$1.1 billion were traded.

Thakral Corporation shares closed 8.2 per cent or S$0.055 higher at S$0.725, a day after the company pointed out that the valuation of its 9.4 per cent indirect stake in UK-based The Beauty Tech Group has not yet been finalised.

Therefore, the board of Thakral – which manages and markets beauty, fragrance and lifestyle brands – could not confirm the accuracy of news reports stating that The Beauty Tech Group was valued at £350 million (S$588.7 million). However, Thakral’s board clarified that the British company is considering strategic options including a public listing.

Shares of CapitaLand Investment ended 0.8 per cent or S$0.02 higher at S$2.47. On Wednesday, the company announced that its Bursa Malaysia-listed subsidiary, CapitaLand Malaysia Trust, had inked a conditional agreement to buy three freehold industrial properties in the Johor-Singapore Special Economic Zone.

The properties are located in Senai Airport City, an industrial and manufacturing hub situated within the zone. The RM72 million (S$22 million) cash consideration will expand CapitaLand Malaysia Trust’s industrial and logistics portfolio to include nine properties, and will be financed through existing debt facilities.

The local banking trio had a mixed showing on Thursday, with DBS flat at S$44.32, UOB down 0.1 per cent or S$0.02 at S$37.18, and OCBC rising 0.6 per cent or S$0.10 to S$17.27.

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