Across broader market, decliners beat advancers 256 to 251, as 1 billion securities worth S$1.4 billion change hands
SINGAPORE equities ended Wednesday (Aug 14) higher as investors took stock of ongoing first-half earnings reports.
The benchmark Straits Times Index (STI) rose 0.9 per cent or 27.71 points to 3,286.28.
Across the broader market, decliners outnumbered advancers 256 to 251, as one billion securities worth S$1.4 billion changed hands.
Agribusiness Wilmar International led gains on the STI, rising 2.7 per cent or S$0.08 to S$3.09. It reported a first-half net profit of US$579.6 million, up 5.2 per cent year on year.
STI constituent ST Engineering was also up, climbing 2.1 per cent or S$0.09 to S$4.37.
The engineering technology group posted a 19.9 per cent year-on-year rise in H1 earnings to S$336.5 million, from S$280.6 million previously.
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In a Wednesday report, OCBC analysts said ST Engineering was well-positioned to ride on the aerospace and defence capital expenditure upcycle.
“ST Engineering’s stock offers stability and growth potential. It is a quality name to accumulate on dips for the long-term investor’s portfolio,” said the analysts.
Yangzijiang Shipbuilding, meanwhile, reversed Tuesday’s gains to fall 4 per cent or S$0.11 to S$2.62.
Local banking stocks were in the black. DBS rose 1.4 per cent or S$0.49 to S$34.61, UOB added 0.9 per cent or S$0.27 to finish at S$29.63, and OCBC gained 0.9 per cent or S$0.12 to close at S$13.95.
Outside Singapore, regional markets were mixed. Hong Kong’s Hang Seng Index fell 0.4 per cent. South Korea’s Kospi Composite Index rose 0.9 per cent. Japan’s Nikkei 225 ended up 0.6 per cent. The Bursa Malaysia Kuala Lumpur Composite Index inched up 0.2 per cent.
