Singapore shares closed higher on Aug 28, with the Straits Times Index (STI) gaining 15.81 points, or 0.28%, to 5,699.93, lifted by gains in the three local banks and Wilmar International.
Wilmar led gains among STI constituents, rising 1.1%, or S$0.04, to S$3.81.
Banking heavyweights also provided support. DBS gained 0.7%, or S$0.50, to S$76.15, while OCBC advanced 0.6%, or S$0.17, to S$31.07. UOB added 0.3%, or S$0.14, to S$40.78.
The gains came as most Asian markets traded modestly higher ahead of US Federal Reserve chairman Kevin Warsh’s closely watched Jackson Hole speech, with investors awaiting further signals on the outlook for interest rates. The MSCI Asia-Pacific equities gauge was up about 0.3% during the session.
The broader Singapore market was less upbeat, however, with decliners outnumbering advancers 290 to 253. About 1.2 billion securities worth S$1.6 billion changed hands.
Frasers Logistics & Commercial Trust was the STI’s worst performer, falling 1.6% to S$0.93. Outside the benchmark, Hong Leong Asia jumped 5.1% to S$3.12, while Frencken Group sank 7.5% to S$2.35.
