Singapore Strait Times Index rose on Friday at the close, tracking overnight gains in the global markets amid rate cut hopes.
During the day, the benchmark index ranged between 3,142.70 and 3,157.48, ending 0.42% or 13.31 points higher at 3,147.09.
In economic news, the Monetary Authority of Singapore will have greater powers over the financial industry, following a new bill that was passed in the parliament. Through this bill, MAS officers will be allowed to gain access to a company's premises without issuing a warrant while also enforcing capital market licensees to legally binding directions and approving key appointments of financial institutions.
Shares of Datapulse Technology (SGX:BKW) slumped 20% on Friday's close, even after the company had reported an attributable profit to the owners for six months ended Jan. 31, of SG$301,000, compared with an attributable loss of SG$693,000 in the year-ago period.
Shares of Oversea-Chinese Banking (SGX:O39) rose nearly 1% on Friday's close, after the company filed for the listing of AU$500 Million worth of floating rate bonds on the Singaporean bourse.
Oceanus Group's (SGX:579) shares rose 14% on Friday's close after its chief executive increased his stake in the food technology company to 11.89% from 9.91%.