Singapore shares rise in line with most regional markets on Thursday; STI up 0.3%

SINGAPORE shares shrugged off a surprise tightening of monetary policy on Thursday (Oct 14) to end the day higher, in line with most markets in the region.

The benchmark Straits Times Index (STI) climbed 0.3 per cent or 8.44 points to close at 3,164.86.

Among the index counters, Jardine Cycle and Carriage ended the day as top gainer. The counter surged 7.9 per cent to close at S$23.65. It was also one of the most actively traded counters by value, with nearly 2 million shares worth S$45.5 million changing hands.

SGX market strategist, Geoff Howie, observed that the stock has gained 24.3 per cent since Sept 28, in line with similar gains of its Indonesian-listed subsidiary, Astra International, over the same period.

"While energy stocks continued to outpace, technology stocks were also among the stronger segments in the local market today, with the agri-businesses more mixed," Howie said. He noted that OCBC shares have continued to outpace DBS, and has now outpaced DBS by 3 per cent since end September.

OCBC shares rose 0.3 per cent to close at S$11.88 on Thursday. Meanwhile, DBS was one of the 4 STI counters that ended the day in the red, falling 0.3 per cent to close at S$30.42.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

Across the broader market, gainers outnumbered losers 265 to 155, after 1.1 billion securities worth S$1.1 billion changed hands.

Geo Energy Resources was among the top actives by volume on Thursday. The counter climbed 9.1 per cent to close at S$0.42 after 46.2 million shares changed hands. The Indonesian coal producer said on Wednesday it no longer has any outstanding US-dollar bonds, having fully redeemed and cancelled its 8 per cent, due-2022 senior notes.

Elsewhere in Asia, markets mostly advanced on Thursday, with major indices in Japan, Australia, Indonesia and South Korea rising between 0.5 and 1.5 per cent.