Singapore shares extended a second day of flattish trading on Wednesday (Jan 4), amid a mixed showing across the region.
The Straits Times Index (STI) shed 0.1 per cent, or 3.34 points to close at 3,242.46. Across the broader market, gainers beat losers 286 to 267, with 1.3 billion shares worth S$993.7 million traded.
Regional markets closed mixed on Wednesday. Japan’s Nikkei 225 fell 1.5 per cent, the Jakarta Composite Index fell 1.1 per cent and the Kuala Lumpur Composite Index fell 0.3 per cent. South Korea’s Kospi gained 1.7 per cent, and the Hang Seng Index rose 3.2 per cent.
SPI Asset Management managing partner Stephen Innes said that there appear to be divergent performances among the markets.
He noted that the Hang Seng Index led the bullish “risk on” momentum across the region, as Alibaba affiliate Ant Group received approval from the China Banking and Insurance Regulatory Commission to increase its registered capital to 18.5 billion yuan (S$3.6 billion) from eight-billion-yuan last Friday.
Still, he added that the Bank of Japan conducted a fourth day of unscheduled bond purchases on Wednesday to limit the rise in yields, which could have dampened market sentiment.
