Among region’s bourses, Japan’s Nikkei 225 up 1.8% after the LDP’s worst parliamentary defeat since 2009
SINGAPORE shares started the week in the red on Monday (Oct 28), even as most regional exchanges ended higher.
The benchmark Straits Times Index (STI) fell 0.3 per cent or 9.33 points to 3,584.08.
Across the broader market, decliners outnumbered advancers 278 to 230, with 1.4 billion shares worth S$905.7 million having been traded.
The biggest gainer on the STI was CapitaLand Integrated Commercial Trust, which climbed 1.5 per cent or S$0.03 to close at S$2.06.
The biggest decliner on the index was offshore and marine company Seatrium. The counter slid 2.1 per cent or S$0.04 to S$1.90.
Mapletree Logistics Trust was the most actively traded counter by volume, with 30.9 million units worth S$42.1 million traded. The counter fell 0.7 per cent or S$0.01 to S$1.36.
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Across the region, Japan’s Nikkei 225 jumped 1.8 per cent on Monday after Japanese Prime Minister Shigeru Ishiba’s Liberal Democratic Party suffered its worst parliamentary election defeat since 2009. The Japanese yen also hit a three-month low.
Stephen Innes, the managing partner at SPI Asset Management, noted that investor interest in Japanese stocks could increase as the falling yen would boost exports.
“Tokyo trading houses most likely expected this (election) outcome and swooped in on bargain-priced stocks,” he added.
Other regional bourses also made gains. Australia’s ASX 200 climbed 0.1 per cent, and the Shanghai Composite Index rose 0.7 per cent. South Korea’s Kospi gained 1.1 per cent.
