[SINGAPORE] The local bourse climbed higher on Thursday (Aug 28) after the latest six-month Treasury bill (T-bill) yield fell to its lowest level since April 2022, signalling a growing risk appetite among investors.
The Straits Times Index (STI) grew 0.2 per cent or 8.21 points to 4,253.78. Across the broader market, losers thumped gainers 281 to 232 after 1.2 billion securities worth S$1.2 billion changed hands.
Based on the auction results released by the Monetary Authority of Singapore on Thursday, the cut-off yield on the latest six-month T-bill fell to 1.44 per cent. This was the 12th consecutive issuance since Mar 26 for which yields have declined.
The median yield stood at 1.39 per cent, down from 1.55 per cent in the previous auction.
Maybank’s research team highlighted Singapore treasury yields’ “relentless downtrend”, with the entire Singapore Government Securities benchmark from short term to 30 years trading under 2 per cent.
On the STI, the top gainer was Thai Beverage, up 2.2 per cent or S$0.01 at S$0.465. ST Engineering was the biggest loser, down 1.4 per cent or S$0.11 at S$7.66.
The trio of local banks closed the day higher. DBS gained 0.3 per cent or S$0.16 to reach S$50.33, OCBC grew 0.5 per cent or S$0.09 to S$16.75, and UOB was up 0.6 per cent or S$0.21 at S$35.30.
Ahead of the US’ gross domestic product update, regional markets closed mixed. Japan’s Nikkei 225 gained 0.7 per cent and South Korea’s Kospi rose 0.3 per cent. Meanwhile, Hong Kong’s Hang Seng Index slid 0.8 per cent.
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