Across the broader market, gainers outnumber losers 380 to 257, after 1.8 billion securities worth S$1.5 billion change hands
SINGAPORE stocks tracked regional gains to end higher on Monday (Oct 7).
The benchmark Straits Times Index (STI) rose 0.3 per cent or 10.06 points to 3,599.19. Across the broader market, gainers outnumbered losers 380 to 257, after 1.8 billion securities worth S$1.5 billion changed hands.
Elsewhere in Asia, the Nikkei 225 rose 1.8 per cent, the Hang Seng Index climbed 1.6 per cent, the Kospi Composite Index was up 1.6 per cent, and the FTSE Bursa Malaysia KLCI gained 0.3 per cent.
“Monday’s trading in Asia is kicking off on a high, with investors buzzing after a blowout US jobs report that caught even the most bullish forecasters off guard,” said Stephen Innes, managing partner at SPI Asset Management.
The labour market had hit “that elusive ‘Goldilocks’ balance”, with surging job gains, a dip in the unemployment rate, and solid wage growth, he added.
“With well-behaved inflation and US economic surprises continuing to turn more positive, equities love the ride,” Innes said. He expects investors in Asia are ready to ride that momentum wave.
On the STI, Seatrium was the biggest gainer, rising 5.5 per cent or S$0.11 to S$2.10.
Meanwhile, CapitaLand Investment was the biggest decliner, falling 1.9 per cent or S$0.06 to S$3.06.
The local banks ended mixed on Monday. DBS gained 0.8 per cent or S$0.32 to S$38.36, OCBC rose 0.4 per cent or S$0.06 to S$14.95, while UOB was flat at S$31.86.
