Singapore stocks continue rally; STI up 1%

[SINGAPORE] Singapore stocks ended higher on Monday (Jun 15).

The benchmark Straits Times Index (STI) gained 1 per cent or 51.49 points to finish at 5,077.29.

Jardine Matheson and Yangzijiang Shipbuilding led the gainers on Singapore’s blue-chip index, both rising 4.3 per cent.

Jardine Matheson ended at US$66, up US$2.75, and Yangzijiang Shipbuilding closed at S$3.60, up S$0.15.

The worst performer among STI constituents was Keppel DC Real Estate Investment Trust , which fell 1.3 per cent or S$0.03 to close at S$2.26.

The three local banks ended higher. DBS gained 0.4 per cent or S$0.25 to S$63.49, OCBC rose 0.9 per cent or S$0.21 to S$23.71, and UOB was up 0.8 per cent or S$0.29 at S$38.45.

Within the iEdge Singapore Next 50 Index, UMS Integration was the top gainer, rising 10.3 per cent or S$0.26 to finish at S$2.78, while Riverstone was the biggest loser, falling 2.3 per cent or S$0.02 to end the session at S$0.845.

Across the broader market, gainers beat losers 435 to 196, after 1.5 billion securities worth S$2.1 billion changed hands.

Key regional indices were all positive. Hong Kong’s Hang Seng Index gained 0.5 per cent, Japan’s Nikkei 225 index rose 5 per cent, South Korea’s Kospi was up 5.2 per cent and the FTSE Bursa Malaysia KLCI advanced 0.5 per cent.

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The local market’s rally comes after a 0.8 per cent increase on Friday, and follows confirmation that a formal peace treaty between the US and Iran will be signed on Jun 19 in Switzerland.

“The ceasefire is a net positive for the (Singapore) market but largely priced in,” said Glenn Thum, research manager at Phillip Securities Research.

This article has been written with the assistance of AI and reviewed by a reporter