Business Standard

Singapore Market gains 0.4%

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The Singapore stock market finished session in the positive territory on Thursday, 04 April 2024, amid improved risk appetite as comments from Federal Reserve officials rekindled hopes of an interest rate cut.
The market was encouraged by softer-than-expected U.S. services sector data and Fed chair Jerome Powell's comments, which aided sentiment around rate cuts.
At closing bell, the Straits Times Index (STI) index was up 12.35 points, or 0.38% to 3,235.01 after trading between 3,232.11 and 3,255.33. Volume of 1.07 billion shares worth S$1 billion changed hands. Across the broader market, advancers outpaced decliners 226 to 174.
Sembcorp Industries was the top constituent gainer for the day, rising 2.79% to S$5.53. DFI Retail Group was the top decliner on the STI for the day, down 1.9% to S$2.06.
Banking stocks ended the day mixed, with shares of United Overseas Bank falling 0.24% at S$29.46, while Oversea-Chinese Banking Corp rose 1.18% at S$13.76 and DBS Group Holdings added 0.64% to S$36.32.
In company news, shares of Fu Yu Corp were up 7% after the company teamed up with myFirst Partners to expand the latters presence to 20,000 locations including Walmart, Costco and Best Buy.
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First Published: Apr 04 2024 | 4:52 PM IST

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