Singapore equities closed higher on July 3, with the benchmark Straits Times Index (STI) climbing 27.14 points, or 0.5%, to 5,244.29 as softer-than-expected US job growth reinforced expectations that the US Federal Reserve (Fed) could keep interest rates on hold for longer.
The gains extended the STI’s rally after its 1.1% advance on July 2, with investors taking cues from broadly stronger regional markets.
Buying was led by shipbuilder Yangzijiang Shipbuilding, which surged 3.2% to S$3.56, making it the top performer among the blue-chip constituents. In contrast, Sembcorp Industries was the day’s biggest decliner, slipping 3.4% to S$5.98.
Singapore’s three local banks also provided support, with DBS Group rising 0.5% to S$66.76, OCBC adding 0.9% to S$25.31 and United Overseas Bank gaining 0.4% to S$40.24.
Across the broader market, advancers outnumbered decliners 384 to 177, with around 1.2 billion securities worth S$1.7 billion traded.
