Singapore stocks ended the shorter trading week higher, as investors seized opportunities in the local market following the US House vote to raise the debt ceiling.
The benchmark Straits Times Index rose 0.2 per cent or 7.5 points on Thursday (Jun 1) to close at 3,166.30. Advancers narrowly inched past decliners 270 to 269, after 1.4 billion securities worth S$1.3 billion changed hands, The Business Times cited.
SPI Asset Management’s managing partner Stephen Innes said: “Asian markets have been dominated by the great unwind of China recovery trades in the past month, as data has disappointed. With China cast down as a driver for regional performance, it could leave local sentiment flapping in the wind.”
Jardine Matheson Holdings : J36 +0.9% was the top advancer by value on Thursday, rising 0.9 per cent or US$0.43 to US$48.44.
DBS : D05 +0.99% was another top gainer, adding 1 per cent or S$0.30 to S$30.60. The other two local lenders, however, ended the day in the red. UOB : U11 -0.39%fell 0.4 per cent or S$0.11 to S$27.84, while OCBC : O39 -0.33%shed 0.3 per cent or S$0.04 to S$12.23.
Venture Corporation : V03 -1.32% was among the top decliners for the day, falling 1.3 per cent or S$0.20 to S$14.97.
