SINGAPORE shares were up more than 1 per cent on Tuesday (Dec 3) afternoon, as China’s central bank reiterated plans to boost the economy to promote growth in 2025.
The benchmark Straits Times Index (STI) advanced 42.11 points, or 1.1 per cent, to 3,793.46 as at 1.23 pm in Singapore. Across the broader market, gainers outnumbered losers 309 to 153, as 716 million shares worth S$793.6 million changed hands.
Yangzijiang Shipbuilding was the among the most heavily traded stocks, jumping 4.5 per cent or S$0.11 in the afternoon to S$2.54. The maritime vessel maker announced on Monday that it had secured another US$2.6 billion in shipbuilding contracts, taking its order wins to US$14.3 billion so far this year. These exceed its target of US$4.5 billion for the 2024 financial year.
Also actively traded was Seatrium, which gained 2.1 per cent or S$0.04 to S$1.99.
The trio of banking stocks rose as well. DBS was 2.4 per cent or S$1.04 higher at S$43.59, while OCBC climbed 0.3 per cent or S$0.04 to S$16.24. UOB was also in the green, rising 0.8 per cent or S$0.28 to S$36.68.
Data had showed that overall factory activity in Singapore rose in November, mirroring a region-wide improvement in manufacturing sentiment.
Overnight, US equities kicked off December on a robust note, with the Nasdaq and S&P 500 closing at record highs. The Dow Jones Industrial Average was the only major Wall Street index to fall on Monday, dipping 0.3 per cent to end at 44,782. The broad-based S&P 500 edged 0.2 per cent higher to close at a record 6,047.15, while the tech-heavy Nasdaq rose 1 per cent to an all-time high of 19,403.95.
The pan-European Stoxx 600 index rose 0.7 per cent to 513.61 points, and closed at a near one-month peak. Germany’s DAX settled at a record high as investors anticipated the euro’s 0.8 per cent slide to benefit exporters.
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