Singapore Market ends 1.55% up

The Singapore stock market finished session higher on Thursday, 05 January 2023, driven by gains in consumer and financial firms, on tracking positive lead from other Asian bourses today and Wall Street's gains the day before.

At closing bell, the Straits Times Index (STI) index was up 50.20 points, or 1.55%, to 3,292.66 after trading between 3,262.38 and 3,297.34. Volume was 1.16 billion shares worth S$1.38 billion changed hands. There were 335 gainers and 206 decliners.

The top performing stock in Straits Times Index was Jardine Matheson which rose 4%, while the bottom performing stock was Emperador Inc, falling 1.9%.

The local banks were higher. United Overseas Bank was up 1.67%, while Oversea-Chinese Banking Corp added 1.2%. DBS was up 2.2%.

In corporate news, Keppel's shares rose over 1%, as Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine, clinched a contract worth SG$130 million from a global renewable energy company to build a 600-megawatts offshore substation.

Lian Beng Group shares gained nearly 1% higher, as its wholly owned unit L.S. Construction secured a new construction project, which took the group's order book in Singapore to about S$1.9 billion.

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