SINGAPORE stocks closed higher on Thursday (Mar 14) amid mixed trading in the region.
The benchmark Straits Times Index (STI) rose 0.8 per cent or 25.68 points to close at 3,186.40.
Sembcorp Industries led the gainers on the index, climbing 2.8 per cent on Thursday to close at S$5.07. Other strong performers included DBS and Keppel, which both rose 2 per cent.
Meanwhile, outgoing STI constituent Emperador continued its slide for the week, sinking 6.5 per cent to close at S$0.43, ending at the bottom of the index performance table.
DBS Group Research analysts Foo Fang Boon and Yeo Kee Yan said the STI is likely to be range-bound between 3,030 and 3,300 in the coming months. They noted that the STI’s earnings growth forecast is expected to decelerate to 3.5 per cent in FY24 and 2.6 per cent in FY25.
“The STI’s attractive valuations and over 5 per cent dividend yields are factors that offset a muted earnings growth outlook,” they said.
Across the broader market, losers outnumbered gainers 286 to 270, after 1.6 billion securities worth S$1.5 billion changed hands.
Singtel was the most active counter by value with some 96.8 million shares worth S$239.4 million being traded. The shares closed unchanged at S$2.48.
Elsewhere in the region, the Nikkei 225 in Japan and South Korea’s Kospi both closed higher, climbing 0.3 and 0.9 per cent, respectively. However, key indices in Australia, Hong Kong and Shanghai closed in the red, declining between 0.2 and 0.7 per cent.
