A ho-hum day, but markets close higher

Lacking catalysts, the Singapore stock market continued in subdued fashion yesterday, though it managed to close modestly higher, with the Straits Times Index adding 7.96 points or 0.25 per cent to close at 3,220.92.

CMC Markets' Margaret Yang said the muted volumes were down to"the market already pricing in the optimistic sentiment of the past two months, which has meant that valuations no longer look cheap". Going by value of trades done, the Yangzijiang Shipbuilding counter saw $70.83 million traded - 9 per cent of the bourse's value of securities traded - across 47.4 million shares. The shipbuilder's shares added $0.05 or 3.5 per cent to close at $1.50; it is up 20 per cent on the year.

About 40 per cent of the volume was contributed by a married trade in the early session involving 20 million shares - about 3 per cent of all outstanding shares - at 11 Singapore cents.Among them, UMS Holdings closed $0.015 or 1.95 per cent lower at $0.755, and Hi-P International $0.04 or 2.4 per cent lower at $1.65.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Hong Kong: Stocks close down, ending four-day rally[HONG KONG] Hong Kong stocks closed down Wednesday, snapping a four-day winning streak, as investors look ahead to the end of a crucial Federal Reserve policy meeting later in the day. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Ho Ching to step down as chairman of Temasek’s subsidiarySINGAPORE — Ms Ho Ching will step down as chairman of Temasek International, the wholly owned management and investment arm of parent company Temasek Holdings.
Source: TODAYonline - 🏆 1. / 99 Read more »

Hong Kong: Stocks end week higher[HONG KONG] Hong Kong stocks ended with healthy gains Friday, topping off a broadly positive week, as Donald Trump sounded a note of optimism over China-US trade talks. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

US: Wall Street edges higher at open on US-China trade hopes[NEW YORK] US stocks rose slightly at open on Friday following a report of progress in trade talks between the United States and China and after UK lawmakers voted to delay a potentially chaotic exit from the European Union. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »