Singapore blue chips rise marginally, in line with regional showing

[SINGAPORE] Singapore stocks turned in a marginally better showing on Tuesday (Apr 21), in line with regional index performance.

The benchmark Straits Times Index (STI) gained 0.2 per cent or 10.89 points to finish at 5,014.96.

CapitaLand Integrated Commercial Trust led the gainers on Singapore’s blue-chip index, rising 3.3 per cent or S$0.08 to S$2.47, a day after it announced its S$3.9 billion buy of Paragon mall.

The worst performer among STI constituents was Thai Beverage , which fell 2.4 per cent or S$0.01 to S$0.41.

The three local banks ended mixed. DBS rose 0.4 per cent or S$0.24 to S$57.48, while OCBC slid 0.3 per cent or S$0.06 to S$22.61 and UOB dropped 0.3 per cent or S$0.13 to S$37.27.

Over on the iEdge Singapore Next 50 Index, Ultragreen AI was the top gainer, rising 6.9 per cent or US$0.09 to finish at US$1.40, while Lendlease Global Commercial Reit was at the bottom of the tally after falling 1.7 per cent or S$0.01 to S$0.57.

Across the broader market, gainers edged out losers 365 to 221, after 1.9 billion securities worth S$2.1 billion changed hands.

Key regional indices were positive. Hong Kong’s Hang Seng Index gained 0.5 per cent; Japan’s Nikkei 225 index rose 0.9 per cent; South Korea’s Kospi surged 2.7 per cent; and the FTSE Bursa Malaysia KLCI advanced 0.8 per cent.

The markets’ judgement seems to be in contradiction with the standstill in the negotiations between US and Iran, as well as crisis warnings from market observers such as the International Energy Agency, noted Norbert Rucker, head of economics and next generation research at Julius Baer.