heightened tension to ultimately provide fuel for two multi-year trends benefiting Singapore: FDI and wealth inflows.
SINGAPORE stocks closed higher on Monday (Dec 2), following gains in Asia led by Chinese shares.
The benchmark Straits Times Index (STI) rose 12.06 points or 0.3 per cent to 3,751.35. Advancers outnumbered decliners 328 to 192, as 945.9 million shares worth S$910.3 million changed hands.
Genting Singapore was the top gainer on the STI. The counter was up 2 per cent or S$0.015 to S$0.78, with 24 million shares worth S$18.6 million traded.
OCBC was the top decliner, falling 0.5 per cent or S$0.08 to S$16.20.
The other two local banks ended higher. DBS rose 0.3 per cent or S$0.12 to S$42.55, and UOB gained 0.1 per cent or S$0.04 to S$36.40.
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Singapore shares have had a strong year, and Macquarie said in a note on Monday that it remains constructive for this market going into 2025.
“While high tariffs imposed on US trade could crimp global trade in the event of a tit-for-tat trade war, we expect heightened tension to ultimately provide fuel for two multi-year trends benefiting Singapore: FDI and wealth inflows.”
At the close on Monday, Japan’s Nikkei 225 was up 0.8 per cent, China’s Shanghai Composite gained 1.1 per cent, and Hong Kong’s Hang Seng Index rose 0.7 per cent.
The FTSE Bursa Malaysia KLCI Index closed 0.1 per cent higher. The MSCI Asia ex-Japan index overall traded up 0.7 per cent.
That came on the back of data released Monday, which showed that China’s factory activity expanded at the fastest pace in five months in November.
Yeap Jun Rong, market strategist at IG, said any upside surprises may help to offer room for Chinese equities to stabilise.
But risk-taking is likely to be limited, given the uncertainty of US tariffs and whether the economic momentum can sustain without a stronger net fiscal injection from authorities thus far, he said.
