Singapore shares advance as STI gains 1.5 per cent
Yangzijiang Shipbuilding led the blue-chip gains, while all three local banks closed higher and technology counters recovered ground.
Singapore’s Straits Times Index closed at 5,258.59 on Nov 10, adding 79.42 points, or 1.5 per cent, as technology shares recovered following a sharp sell-off. Across the market, 390 counters advanced and 212 declined, with turnover reaching S$2.8 billion across 1.3 billion securities.
Among STI stocks, Yangzijiang Shipbuilding posted the strongest gain, climbing S$0.24, or 5.5 per cent, to S$4.59. Frasers Logistics & Commercial Trust was the weakest performer, losing S$0.03, or 3.2 per cent, to S$0.895.
All three local banks advanced. OCBC finished at S$28.60 after rising S$0.87, or 3.1 per cent. UOB added S$0.50, or 1.4 per cent, to S$37.38, while DBS increased S$0.65, or 0.9 per cent, to S$70.37.
AEM reached S$6.99 during morning trading, a gain of as much as 12 per cent, before closing at S$6.84. UMS Integration ended at S$1.75, up 3.6 per cent. CSE Global touched S$0.875 before easing to a S$0.85 close.
Within the iEdge Singapore Next 50 Index, AEM recorded the largest advance. Food Empire led the declines, dropping S$0.11, or 5.9 per cent, to S$1.75. Tiger Brokers chief market strategist James Ooi said the recovery tracked Monday’s rebound in US technology shares and that investors remained willing to buy after price falls.
