Singapore Market ends 0.6% up

The Singapore stock market finished session higher for the second consecutive day on Wednesday, 27 March 2024, on following higher-than-expected growth in the city-states February factory output.

Data released by the Economic Development Board on Tuesday showed that Singapores factory output grew 3.8% in February. Excluding the more volatile biomedical industry, output increased by 1.4% in February. However, Januarys growth was revised lower to 0.6% from an earlier estimate of 1.1%, figures from the Economic Development Board (EDB) showed.

At closing bell, the Straits Times Index (STI) index was up 18.38 points, or 0.57% to 3,251.71 after trading between 3,242.36 and 3,262.52. Volume of 1.42 billion shares worth S$1.35 billion changed hands. Across the broader market, advancers outpaced decliners 289 to 270.

 

Singapore Post closed 6.6% higher at 40.5 cents, after it announced the completion of a strategic review that aims to unlock value.

Sembcorp Industries was the top constituent gainer for the day, rising 1.88% to S$5.41. Emperador Inc. was the top decliner on the STI for the day, down 2.5% to S$0.07943.

Banking stocks ended the day higher. DBS Group Holdings added 1.52% to S$36.632 and Oversea-Chinese Banking Corp increased by 0.3% at S$13.74. United Overseas Bank was up 1.47% at S$29.68.

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