Singapore stocks ended higher on Tuesday (Oct 18), snapping an eight-day losing streak as regional markets rallied on the back of positive developments in the UK’s economic policy.
The Straits Times Index (STI) gained 0.3 per cent or 10.13 points to close at 3,025.88.
Gainers outnumbered losers 328 to 216, with 1.6 billion securities worth S$979.6 million having changed hands.
DFI Retail Group : D01 +3.13% was the top gainer on the STI on Tuesday, rising 3.1 per cent to US$2.31 at the close. Some 231,400 shares worth US$530,000 were traded, The Business Times cited.
Singapore Airlines : C6L +1.4% (SIA) rose 1.4 per cent to close at S$5.07, with 3.6 million shares worth S$18.2 million traded.
In the flag carrier’s September 2022 operating results, the group noted that SIA and Scoot carried 2.1 million passengers for the month. Passenger capacity rose by 2.5 per cent from the previous month, reaching about 67 per cent of pre-Covid-19 levels for September.
THE Straits Times Index (STI) lurched below the 3,000 mark for about 45 minutes during early trading on Monday (Oct 17). But it managed to claw its way back up to close at 3,015.75 – 0.8 per cent below where it ended the preceding week.
With central banks around the world – including the Monetary Authority of Singapore – committed to fighting inflation, it is possible that the local market benchmark will eventually plumb below that psychologically significant threshold with more conviction in the weeks and months ahead.
This could have adverse implications for the 30 companies and real estate investment trusts (Reits) that form the STI, as well as the broader market.
