Singapore shares end 0.25% higher on thinly traded Tuesday session
Trade issues remain the central topic dictating market sentiment. That said, a lack of development on the trade front as well as US markets being shut on Monday, made for thinly traded and fairweathered session here.
The Straits Times Index (STI) hovered around Monday's closing for most of the session, settling at 3,090.63, up 7.67 points or 0.25 per cent.
Elsewhere in the Asia-Pacific, the region's key markets were mixed. China joined Singapore in the black. On the other hand, Australia, Hong Kong, Malaysia and South Korea were in the red. Japan was flat.
"The uncertainty about the US-China trade continues to rule the markets, setting the month of September off with a risk-aversion," ING Asia economist Prakash Sakpal noted.
In Singapore, trading volume clocked in at 1.02 billion securities, 85 per cent of the daily average in the first seven months of 2019. Total turnover came to S$647.63 million, just 60 per cent the January-to-July daily average.
Across the market, decliners outpaced advancers 192 to 169. The blue-chip index had five of the 30 counters in the loss column.
Yangzijiang Shipbuilding, unchanged at 90.5 Singapore cents, remained the most active counter on the STI with 25.7 million shares changing hands.
The local banks were mixed. DBS Group Holdings was unmoved at S$24.35; OCBC Bank gained two Singapore cents or 0.2 per cent to S$10.65 and United Overseas Bank ended at S$24.93, dipping seven Singapore cents or 0.3 per cent.
Sembcorp Marine (Sembmarine) shares continued its advance on Tuesday, closing two Singapore cents or 1.7 per cent up at S$1.18, after the offshore and marine firm said it won contracts worth S$400 million on Monday. Sembmarine's parent, Sembcorp Industries were also given a lift, gaining six Singapore cents or 2.9 per cent to S$2.10.
Among second line stocks, CSE Global added 1.5 Singapore cents or 3.4 per cent up at 45.5 cents after acquiring industrial power systems manufacturer Volta for US$25.1 million.
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