The Republic’s non-oil domestic exports in December is up 9% on year, beating expectations
SINGAPORE shares ended higher on Friday (Jan 17), after the Republic released buoyant key exports data for December.
The benchmark Straits Times Index (STI) gained 0.3 per cent or 9.65 points to 3,810.78.
Across the broader market, 271 gainers beat 183 decliners, with 977.1 million securities worth S$1.1 billion changing hands.
STI constituent Genting Singapore was the most actively traded stock, with 41.8 million shares worth S$31.3 million trading throughout the day. The counter added 0.7 per cent or S$0.005 to end at S$0.745.
Industrial and urban solutions provider Sembcorp Industries was the top gainer on the STI, expanding 1.3 per cent or S$0.07 to S$5.63.
The blue-chip barometer was dragged by maritime vessel maker Yangzijiang Shipbuilding, which fell 2.7 per cent or S$0.08 to S$2.93.
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Banking stocks were mixed. UOB declined 0.1 per cent or S$0.03 to S$37.03, while DBS was up 0.2 per cent or S$0.07 at S$43.85. OCBC increased 0.6 per cent or S$0.10 to S$17.12.
On Friday, data from Enterprise Singapore showed that the country’s non-oil domestic exports in December rose 9 per cent year on year, beating the expectations of private-sector economists.
Nomura economists said that the strong showing “supports out view that the government’s advance estimate of manufacturing sector growth in the fourth quarter is too cautious amid the continued global tech uptrend”. They added that an upward revision of Singapore’s final Q4 gross domestic product in 2024 is possible.
Regional indices were varied. Japan’s Nikkei 225 closed down 0.3 per cent. South Korea’s Kospi index fell 0.2 per cent. Hong Kong’s Hang Seng Index rose 0.3 per cent. The Bursa Malaysia Kuala Lumpur Composite Index climbed 0.7 per cent.
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