Across the broader market, advancers outnumber decliners 377 to 181 after 1.1 billion shares worth S$1.4 billion change hands
[SINGAPORE] The Straits Times Index (STI) closed higher, mirroring most regional indices on Monday (Apr 14).
The STI closed up 1 per cent or 36.38 points to 3,548.91.
Across the broader market, advancers outnumbered decliners 377 to 181 after 1.1 billion shares worth S$1.4 billion changed hands.
The trio of banks regained some ground, with DBS up 1.8 per cent or S$0.68 at S$38.81. OCBC increased 1.1 per cent or S$0.17 to S$15.18; and UOB gained 1.4 per cent or S$0.45 to S$32.92.
The top gainer was SGX, which closed up 2.1 per cent or S$0.26 to S$12.95.
The biggest loser was Sembcorp Industries, which fell 1.3 per cent or S$0.08 to S$6.13
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Across the region, major indices closed higher, with the Kospi up 1 per cent and the Nikkei 225 up 1.2 cent. Hong Kong’s Hang Seng Index gained 2.4 per cent and the KLCI climbed 1.8 per cent.
The additional tariff rollbacks announced by the US over the weekend could extend optimism in the market into this week, noted Yeap Jun Rong, market strategist at IG. The economic drag from existing tariffs will be a key risk to monitor.
While recession risks have eased compared to a month ago, it still remains elevated. Growth forecasts still point to a sharp slowdown in the US economy in 2025, with estimates ranging from 0.1 per cent to 0.6 per cent, with unemployment expected to rise and inflation to persist.
“Once the initial optimism around tariff rollbacks fades, these underlying macro headwinds could bring markets back to a more sobering reality,” said Yeap.
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