Singapore stocks track regional gains; STI up 0.1%
Across the broader market, gainers edge out losers 289 to 236, with 1.3 billion securities worth S$1.5 billion changing hands
[SINGAPORE] Singapore stocks ended higher on Friday (Jan 9) amid strong regional performance.
The benchmark Straits Times Index (STI) gained 0.1 per cent or 5.59 points to finish at 4,744.66.
Across the broader market, gainers edged out losers 289 to 236, with 1.3 billion securities worth S$1.5 billion having changed hands.
Key regional indices were positive. Hong Kong’s Hang Seng Index gained 0.3 per cent, Japan’s Nikkei 225 index gained 1.6 per cent, South Korea’s Kospi gained 0.8 per cent and the FTSE Bursa Malaysia KLCI gained 1 per cent.
The positive regional showing comes ahead of the potential United States’ Supreme Court ruling on US President Donald Trump’s tariffs.
However, Neil Wilson, UK investment strategist at Saxo Markets, is unclear how detailed any decision or statement will be.
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“There could be headline noise if they slap down the use of tariffs – perhaps first some hope that it means easier trade, but (it’s) likely to be quickly tempered by the knowledge that Trump will find another way,” he added.
“Tariffs are not going anywhere,” he said.
Jardine Matheson led the gainers on Singapore’s blue-chip index, rising 4.3 per cent or US$3.11 to end at US$74.72.
The worst performer among STI constituents was OCBC , falling 1.8 per cent or S$0.37 to close at S$19.80.
JP Morgan downgraded its call on the local bank from “overweight” to “neutral”, but still raised its target price from S$20 to S$20.50.
Meanwhile, the other two banks rose on Friday. DBS rose 0.5 per cent or S$0.26 to S$57.60 and UOB inched up 0.03 per cent or S$0.01 to S$36.02.
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