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STI 0.8% higher following Wall Street gains; glove-maker stocks among biggest losers

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SINGAPORE stocks ended Tuesday higher, following a coronavirus-fuelled stock market rally in which Wall Street booked gains, with investors buoyed by news of a newly-approved Covid-19 vaccine, as well as the potential easing of US-China trade tensions. Read more at The Business Times.

Healthcare stocks were among the biggest decliners of the day. Glove makers such as Top Glove shed S$0.75 or 8.22 per cent to close at S$8.38; UG Healthcare lost S$0.26 or 10.16 per cent to S$2.30. Riverstone Holdings, too, ended the day S$0.19 or 4.58 per cent down at S$3.96. Medical apparel maker Medtecs International's share price slid S$0.26 or 15.48 per cent to S$1.42.

Among the constituent stocks, Singapore Airlines emerged the top gainer, adding S$0.12 or 3.26 per cent to close at S$3.80. The state's gradual reopening of its borders fuelled investor sentiment, with some 13.2 million shares traded over the course of the day. Airline gateway services provider SATS saw its share price gain S$0.02 or 0.65 per cent to S$3.10 after CGS-CIMB upgraded its call on the company to a hold. The brokerage said the worst could be over for the group, and that it could look forward to better freight rates on the back of stronger demand for perishable and medical supplies.

Banks ended the day in positive territory. DBS gained S$0.20 or 0.96 per cent to S$20.99; OCBC added S$0.13 or 1.51 per cent to S$8.74. UOB closed S$0.21 or 1.06 per cent higher at S$20.06. Elsewhere in Asia, the FTSE Bursa Malaysia KLCI Index slipped 0.87 per cent or 13.62 points to close at 1,554.96 points; the Nikkei 225 Index gained 1.35 per cent or 311.26 points. The Hang Seng Index lost 0.26 per cent or 65.36 points.For daily updates on weekdays and specially selected content for the weekend. Subscribe to

 

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Singapore stocks open higher on Monday; STI up 0.1%SINGAPORE shares edged up on Monday amid mixed performance among index stocks and bank counters. Read more at The Business Times.
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