Singapore stocks closed firmly higher on Aug 7, with the benchmark Straits Times Index (STI) gaining 59.44 points, or 1.1%, to end at 5,698.43.
Yangzijiang Shipbuilding led the blue-chip rally, jumping 6.6% to S$4.20 and emerging as the STI’s most actively traded counter with 53.2 million shares changing hands.
Banking heavyweights also provided support. DBS advanced 1.7% to S$76.33, while OCBC climbed 3.3% to S$30.30. UOB, however, slipped 0.6% to S$43.30. CapitaLand Investment was the STI’s biggest laggard, falling 2.2% to S$2.69.
Market breadth was positive, with 294 gainers against 267 losers. About one billion securities worth S$2.6 billion changed hands during the session.
DBS recorded the highest trading value, with 6.8 million shares worth approximately S$515.5 million transacted.
The strong finish came after the STI opened Friday at 5,647.90, up just 0.16%, indicating that buying momentum strengthened significantly as the session progressed.
