SINGAPORE shares rose on Tuesday, with the Straits Times Index up 7.18 points or 0.28 per cent to 2,582.97. Gainers outnumbered losers 237 to 185, after about 1.62 billion securities worth S$1.27 billion changed hands.
The biggest gainer on the index was Jardine Matheson, the holding company for the Jardine empire, which gained US$1.35 or 3.38 per cent to end at US$41.30. It was followed by agri-business group Wilmar International, which rose S$0.13 or 3.01 per cent on news that its Chinese subsidiary, Yihai Kerry Arawana, has submitted responses to further queries from the Shenzhen Stock Exchange in relation to its proposed listing, including its updated financial information. Investors likely read it as the company inching a step closer to a listing, which is expected to be a share price catalyst for Wilmar.
The biggest loser was Asia retail group Dairy Farm International, which retreated US$0.14 or 3.27 per cent to US$4.14, as the street’s expectations is for its financial results to be materially impacted by the Covid-19 outbreak. Penny stocks in the gold-mining and healthcare sectors continued to lead in trading activity. Miners such as CNMC Goldmine and Anchor Resources racked up trading volumes of 110.6 million shares and 81.5 million shares traded, respectively.