Strong Singapore trade data lifts local bourse after 2 days of losses

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SINGAPORE – Good trade data helped the local market snap two straight days of losses and shrug off overnight dips on Wall Street led by heightened pandemic fears.

Optimistic investors sent the Straits Times Index up 12.32 or 0.39 per to 3,152.30, to end a choppy trading week that closed 20.9 points or 0.7 per cent ahead and nearly 11 per cent higher for the year so far.

Sentiments in the local bourse may have been partly lifted by strong trade data as Singapore’s exports last month rose 15.9 per cent – well above forecast, partly owing to a low base a year ago.

Except for Australia, Hong Kong and Malaysia, other key gauges across the region, from Japan and China to Taiwan and South Korea, ended the day with losses. Caution continued to prevail, given rising Covid-19 infections across the Asia-Pacific and in the United States.

Turnover here came in at 1.34 billion units worth $844.54 million, with gainers well outpacing losers 267 to 192.

Sanli Environmental saw massive action and jumped to a 52-week high of 16.3 cents after gaining 130 per upon trading resumption on Friday.

The counter, which generally sees anaemic trading, was the day’s second most active, with 48 million shares traded.

The Catalist-listed firm said on Thursday that it had bagged a $73 million job from PUB to build and commission new disinfection systems in Johor.

The contract brought its total order book to $329.8 million.

Mercurius Capital Investment fell 8.2 per to 6.7 cents.

The firm responded on late Thursday to Singapore Exchange queries regarding its acquisition of a Malaysian supermarket chain.

It said it did not need to seek shareholder consent as they “are fully aware of this and of the fact that by considering and voting on the new business, they are considering and indirectly voting on the proposed acquisition”.

The counter was the day’s fifth most active, with 32 million shares changing hands.

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