"The balance of economic risks remains tipped towards growth as reflected by another downgrade by the IMF of its global growth outlook," said ING economists Nicholas Mapa and Prakash Sakpal.
More than 100 million Nico Steel shares changed hands, lifting the stock to top of the volumes table.Another active stock was Singtel, which saw 52.3 million shares traded, after the management defended at its annual general meeting the telco's investments in units such as cyber security arm Trustwave and digital marketing unit Amobee.
Other stocks in the red included Yoma Strategic Holdings, which lost 2.6 per cent or one cent to 37.5 cents. Catalist-listed ISOTeam said it will buy Coney International's entire stake in Pure Group for $24 million in cash and shares. But the news did not lift the stock, which lost 3.92 per cent or one cent to 24.5 cents.
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