Singapore share prices ended 0.5% higher on Friday on hopes US jobs numbers out later Friday will show some signs of stability and point to a recovery in the world’s largest economy.
The gains came despite a sell-off in regional equities, which was triggered by general investor disappointment over the European Central Bank’s latest response to the region’s debt crisis.
Singapore’s blue-chip Straits Times Index climbed 15.14 points to end at 3,051.33. In the broader market, 1.32 billion shares changed hands. Gainers outnumbered losers 217 to 141.
Real estate plays were among the gainers, helped by strong share price performance by property stocks in China and Hong Kong on the back of hopes of more market-boosting measures.
Global Logistic Properties rose 1.8% to S$2.33, CapitaLand climbed 2.3% to S$3.12 and CapitaMalls Asia was up 1.2% to S$1.67.
DBS Group Holdings gained 0.4% to S$14.75, after it reported a 10 per cent on-year rise in second-quarter net profit to S$810 million.
via ChannelNewsAsia
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Latest posts by Alfonso Esparza (see all)
- Market Rally Still Going Low Holiday Volumes Awaiting Start of 2020 - 27 December 2019
- Market Awaits China Retaliation on Trade - 29 November 2019
- Alibaba to Close Order Book Ahead of Huge IPO - 18 November 2019