Market Summary
Singapore shares closed higher on Monday (Nov 7), even as China’s decision over the weekend to stick to its zero-Covid policy dampened investor sentiment. The Straits Times Index (STI) gained 11.2 points or 0.4 per cent to close at 3,141.31. In the broader Singapore market, gainers outnumbered losers 322 to 233, with 1.62 billion shares worth S$1.11 billion traded. The top performer on Singapore’s benchmark index was Venture Corporation, after the technology company last Friday (Nov 4) reported a 26.4 per cent rise in earnings for the third quarter ended September, on the back of broad-based revenue growth. Shares of Venture Corp closed 4.3 per cent or S$0.70 higher at S$16.83 on Monday. At the bottom of the table among the index constituents was data centre-focused Keppel DC Reit, which lost 2.8 per cent or S$0.05 to close at S$1.71. Meanwhile, Thai Beverage was the most heavily traded STI counter, with 38.8 million shares changing hands. Shares of ThaiBev closed 3.5 per cent or S$0.02 higher at S$0.60. The trio of local banks were mixed. DBS dipped 0.1 per cent or S$0.04 to S$34.43, while UOB gained 0.4 per cent or S$0.10 to S$28.50 and OCBC rose 0.7 per cent or S$0.08 to end at S$12.12.
Wall Street stocks rose for a second straight session on Monday as the dollar retreated and markets began to look past midterm US elections. The Dow Jones Industrial Average gained 1.3 per cent to finish at 32,827.00. The broad-based S&P 500 advanced 1.0 per cent to 3,806.80, while the tech-rich Nasdaq Composite Index rose 0.9 per cent to 10,564.52. This week’s calendar also includes consumer price data on Thursday, which will be a key test of whether the Federal Reserve’s interest rate hikes have made a dent in inflation and whether the US central bank will feel the need to enact another supersized increase next month.
Comments