STI inches higher on Thursday, tracking regional benchmarks

Singapore stocks ended higher on Thursday (Nov 13), tracking regional peers.

The benchmark Straits Times Index (STI) gained 0.2 per cent or seven points to finish at 4,575.91. Meanwhile, the iEdge Singapore Next 50 Index gained 0.2 per cent or 2.56 points to 1,459.85.

Across the broader market, gainers edged out losers 318 to 252, after 1.2 billion securities worth S$1.8 billion changed hands.

Key regional indices were positive. Hong Kong’s Hang Seng Index gained 0.6 per cent; Japan’s Nikkei 225 index rose 0.4 per cent; South Korea’s Kospi was up 0.5 per cent; while the FTSE Bursa Malaysia KLCI remained flat.

ST Engineering led the gainers on Singapore’s blue-chip index, rising 4.7 per cent or S$0.39 to end at S$8.68.

The worst performer among STI constituents was DBS, which fell 1.5 per cent or S$0.84 to close at S$54.21.

The local banks all ended lower. OCBC dropped 0.3 per cent to finish at S$18.66; and UOB dipped 0.1 per cent to finish at S$34.10.

The upcoming US public sector data will be closely watched by investors, who have been positioning themselves devoid of government figures, said Jose Torres, senior economist at Interactive Brokers.

Should the long-awaited statistics not match the markets’ recent trajectory, sharp moves could happen in either direction, he noted.

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“It’s precisely during the augmented period when participants made investments with incomplete information that could spark meaningful shifts in asset prices, depending on the findings,” added Torres.

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