Singapore shares close higher on Wednesday, STI up 0.4%

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– Local equities continued their advance on (Feb 3) after another robust performance on Wall Street.

Investor optimism across stock markets was also lifted by the usual suspects – stimulus hopes and vaccine roll-outs.

The over-night trading session on Wall Street saw the three indices in the black with each rising by around 1.5 per cent.

That helped the benchmark Straits Times Index added 0.4 per cent or 10.18 points to finish at 2,927.47 with losers outgunning gainers 269 to 203 on trade of 2.35 billion worth $1.29 billion.

Elsewhere in Asia, stock markets generally ended the day on a positive note. The Nikkei 225 added 1 per cent, the Kospi advanced 1.1 per cent while the Hang Seng Index and KLCI each gained 0.2 per cent.

The Shanghai and Shenzhen bourses the trend, falling around 0.6 per cent.

Mr Stephen Innes, chief global markets strategist at Axi, noted that this is “hardly the end of the rosy re-opening story” for stock markets, as risk appetites remained buoyant on fiscal stimulus, improved global vaccine distribution and diminishing fears about retail-trading dislocation.

Jardine Matheson Holdings and Jardine Strategic Holdings topped the list of advancers. Jardine Matheson gained 1.5 per cent to US$59.70 while JSH added 2.5 per cent to US$26.25.

iFast Corporation was the biggest loser after coming in among the top gainers in the past two trading sessions. The counter closed at $6.14, down 9.4 per cent.

Other decliners included Nanofilm Technologies, which fell 2 per cent to $5.01, and Top Glove, down 3.5 per cent to $2.23.

Oceanus was the most heavily traded stock for the third consecutive day with 371 million shares changing hands as it closed down 1.5 per cent at 6.5 cents.

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