Across the broader market, gainers outnumber losers 347 to 186 after 1.9 billion securities worth S$1.5 billion change hands
SINGAPORE shares ended Wednesday (Feb 12) in a positive territory amid regional gains.
The benchmark Straits Times Index (STI) was up 0.4 per cent or 13.86 points at 3,874.62. Across the broader market, gainers outnumbered losers 347 to 186 after 1.9 billion securities worth S$1.5 billion changed hands.
On the STI, Seatrium was the top gainer, up 6.5 per cent, or S$0.14, at S$2.30. DFI Retail Group as the biggest loser dropped 3.4 per cent, or US$0.08, to US$2.29.
Trio of local banks ended the day mixed. DBS advanced 0.2 per cent or S$0.11 to S$44.96. OCBC lost 0.3 per cent or S$0.05 to S$17.30, and UOB closed flat at S$37.50.
The latest testimony by Federal Reserve chair Jerome Powell on monetary policy was in line with his previous remarks, noting that the US economy remains strong and the Fed is not in a hurry to cut rates.
Ipek Ozkardeskaya, senior analyst of Swissquote Bank, said that all eyes are on the US inflation update.
“A set of softer-than-expected inflation numbers could help sooth inflation worries and encourage a deeper retreat in the US dollar and a further advance across the major peers. While a stronger-than-expected set of inflation figures could fuel worries, back a further rise in the US yields and the dollar, and weigh on risk appetite,” added Ozkardeskaya.
Other markets in Asia also closed the day higher. Japan’s Nikkei 225 was up 0.4 per cent. FTSE Bursa Malaysia KLCI closed the day 0.8 per cent higher, and Hang Seng grew 2.6 per cent.
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