Across the broader market, gainers beat losers 307 to 224 after 1.5 billion securities worth S$1.8 billion changed hands
[SINGAPORE] Shares on the Singapore bourse ended higher on Wednesday (Mar 12) amid mixed performance in the region.
The benchmark Straits Times Index (STI) climbed 0.2 per cent or 7.24 points to 3,833.07. Across the broader market, gainers beat losers 307 to 224 after 1.5 billion securities worth S$1.8 billion were traded.
The top gainer on the index was DFI Retail Group, which rose 8.6 per cent or US$0.18 to US$2.28.
The biggest decliner was national carrier Singapore Airlines. The counter slid 1.6 per cent or S$0.11 to S$6.65.
Resort and casino operator Genting Singapore was the most actively traded counter by volume among STI counters, with 53.4 million shares worth S$38.9 million changing hands. The counter was up 0.7 per cent or S$0.005 at S$0.725.
Markets across the region ended mixed, following a region-wide sell-off the day before.
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Japan’s Nikkei 225 was up 0.1 per cent while South Korea’s Kospi climbed 1.5 per cent. However, Australia’s ASX 200 fell 1.3 per cent and Hong Kong’s Hang Seng Index dipped 1 per cent.
Yeap Jun Rong, market strategist at IG, said that the release of the US’ consumer price index for February, which provides a measure of inflation rates, on Wednesday would be “the focal point” for markets.
Yeap said that US headline inflation is expected to ease to 2.9 per cent from 3 per cent in January. While the inflation rate last month was higher than expected, he said an inflation reading closer to consensus would likely offer some calm for global markets by signalling US economic resilience.
“With prevailing concerns over a US growth slowdown persisting, any significant surprise in inflation data could potentially see renewed market volatility on recession or stagflation fears,” said Yeap.
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