Across the broader market, gainers beat losers 347 to 186, after 1.9 billion securities worth S$1.5 billion change hands
SINGAPORE stocks ended Wednesday (Feb 12) in positive territory amid regional gains.
The benchmark Straits Times Index (STI) closed 0.4 per cent or 13.86 points higher at 3,874.62. Across the broader market, gainers beat losers 347 to 186, after 1.9 billion securities worth S$1.5 billion changed hands.
On the STI, Seatrium was the top gainer, up 6.5 per cent or S$0.14 at S$2.30. DFI Retail Group was the biggest loser, dropping 3.4 per cent or US$0.08 to US$2.29.
The trio of local banks ended the day mixed. DBS advanced 0.2 per cent or S$0.11 to S$44.96, OCBC lost 0.3 per cent or S$0.05 to S$17.30, while UOB closed flat at S$37.50.
The latest testimony by Federal Reserve chair Jerome Powell on monetary policy was in line with his previous remarks, noting that the US economy remains strong and the Fed is not in a hurry to cut rates.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said all eyes are on the US inflation update.
“A set of softer-than-expected inflation numbers could help soothe inflation worries and encourage a deeper retreat in the US dollar and a further advance across the major peers. Stronger-than-expected inflation figures could fuel worries, back a further rise in US yields and the dollar, and weigh on risk appetite,” she added.
Other markets in Asia also closed the day higher. Japan’s Nikkei 225 was up 0.4 per cent, FTSE Bursa Malaysia KLCI climbed 0.8 per cent, and Hong Kong’s Hang Seng advanced 2.6 per cent.
Copyright SPH Media. All rights reserved.
