Singapore Exchange Market gains 0.4%

The Singapore stock market finished session modestly higher in heavy trading on Friday, 31 May 2024, on the back of gains in banking stocks, while market upside capped as investors await inflation readings from Europe and the U.S. that will likely dictate the path of interest rates globally.

At closing bell, the Straits Times Index (STI) index was up 13.21 points, or 0.4% to 3,336.59 after trading between 3,323.20 and 3,336.59. Across the broader market, advancers outpaced decliners 323 to 265, with 2.76 billion securities worth S$4.35 billion changed hands.

Hongkong Land was the top constituent gainer for the day, rising 2.2% to S$3.39. Seatrium was the top decliner on the STI for the day, down 5.37% to S$1.76.

 

Banking stocks ended the day higher. Oversea-Chinese Banking Corp was up 0.8% at S$14.51 while DBS Group Holdings added 1.04% to S$35.99 and United Overseas Bank added 0.75% at S$30.79.

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