SINGAPORE (THE BUSINESS TIMES) – Native shares snapped a dispiriting six-day shedding streak with gusto on Wednesday on the again of gentle optimism over the pandemic and indicators of a Wall Road rebound.
Some markets elsewhere within the area additionally rode the Wall Road coat-tails however others ended within the pink for an additional day.
The higher temper right here drove the Straits Occasions Index (STI) up a strong 1.9 per cent, or 56.96 factors, to shut at 3,098.25.
It was much less clear-cut on the broader market with losers narrowly beating gainers 237 to 230, with 1.33 billion shares price $1.78 billion altering fingers.
Most Asian markets had been blended with Oanda senior market analyst Jeffrey Halley noting that the rise in United States index futures took the sting off regional losses.
Japan’s Nikkei 225 index rose 0.4 per cent, South Korea’s Kospi climbed 2.1 per cent and Hong Kong’s Cling Seng Index added 0.8 per cent, however Malaysia’s Kuala Lumpur Composite fell 1.1 per cent whereas the Jakarta Composite declined 0.4 per cent.
Australian shares pared their losses to dip 0.3 per cent, whereas the Aussie greenback fell to one-year lows towards the dollar.
“Tomorrow is one other day, although, and I’ve little question that one other (Omicron) headline may have the senseless herd we name the monetary markets stampeding the opposite method,” stated Mr Halley, including that volatility will stay this month as markets grapple with Omicron’s influence on economies.
The native banks thrived with DBS rising because the STI’s prime gainer, advancing 5.1 per cent to $31.38.
OCBC added 2.6 per cent to $11.27 whereas UOB closed at $26.13, up 2.6 per cent.
Dairy Farm Worldwide was on the backside of the desk, falling 2.6 per cent to US$3.04.
Essentially the most closely traded counter by quantity was Hatten Land. It closed at 5.3 cents, down 3.6 per cent on commerce of 70 million shares.
