SINGAPORE shares ended higher on Tuesday (Dec 3), tracking regional gains as China’s central bank reiterated plans to boost the economy to promote growth in 2025.
The benchmark Straits Times Index (STI) advanced 34.78 points, or 0.9 per cent, to 3,786.13 at the close on Tuesday. Across the broader market, gainers outnumbered losers 377 to 184, as 1.3 billion shares worth S$1.5 billion changed hands.
Elsewhere in the region, key indices were largely up. Hong Kong’s Hang Seng Index gained 1 per cent, Japan’s Nikkei 225 was up 1.9 per cent, South Korea’s Kospi Composite Index rose 1.9 per cent, and the FTSE Bursa Malaysia KLCI ended 0.7 per cent higher.
In China, yields in Chinese bond markets are at historic lows, as incoming US president Donald Trump’s aggressive trade rhetoric may threaten to exacerbate China’s economic struggles, said Stephen Innes, managing partner at SPI Asset Management.
“Amid this backdrop, the air is thick, anticipating further monetary easing by the People’s Bank of China,” Innes said.
“Despite a series of rate cuts and liquidity injections, the desired economic resurgence remains elusive, prompting speculation of even bolder measures on the horizon,” he added.
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Meanwhile, data has showed that overall factory activity in Singapore rose in November, mirroring a region-wide improvement in manufacturing sentiment.
The top gainer on the STI was Thai Beverage, which rose 3.5 per cent, or S$0.02 to S$0.595. The counter was the top-traded one by volume on Tuesday, with 73.1 million shares worth S$43.1 million changing hands.
Mapletree Industrial Trust was the biggest decliner, down 1.3 per cent or S$0.03 to S$2.30.
The trio of banking stocks ended higher. DBS gained 2.3 per cent or S$0.96 to S$43.51, OCBC rose 0.1 per cent or S$0.01 to S$16.21, while UOB was up 1 per cent or S$0.35 at S$36.75.
