Local shares book minor gains on Wednesday
Because traders hunted for bargains in the local stock market and shrugged off concerns over inflationary pressures and interest rate hikes.
Regional markets ended the day mixed. The Nikkei 225 was down 0.7 per cent, the KLCI lost 0.3 per cent, and the Kospi shed 0.2 per cent. Meanwhile, the Hang Seng rose 0.3 per cent, and the ASX 200 added 1.3 per cent.
About 951.7 million securities worth S$740.8 million changed hands on the local bourse $SGX(S68.SG$ , with advancers outnumbering decliners 247 to 219. $FTSE Singapore Straits Time Index(.STI.SG$ ended the midweek trading session up 0.1 per cent or 2.22 points, to close at 3,256.19.
IG market analyst Yeap Jun Rong said that the STI “remains fairly stuck within a consolidation zone”. Fund flow data from the Singapore Exchange last week revealed institutional and retail net inflows to be at S$7.9 million and S$5.7 million, respectively.
However, Yeap noted that the STI has been one of the more resilient market indices this year, with a gain of 1.5 per cent. The index has been “tapping its defensive status in the region for some traction amid the global economic challenge”, he added.
$NIO Inc. USD OV(NIO.SG$ broke a two-day losing streak, and came up among the top performers on Wednesday. The counter ended the day up 1 per cent or US$0.11, at US$11.11.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
