Singapore Market gains 0.26%

The Singapore stock market finished session higher on Wednesday, 11 January 2023, on tracking positive lead from positive session on Wall Street overnight and other Asian bourses on Wednesday amid increasing optimism that China's economic recovery from the damage inflicted by Covid-19 will gather pace.

At closing bell, the Straits Times Index (STI) index was up 8.60 points, or 0.26%, to 3,271.51 after trading between 3,261.49 and 3,281.23. Volume was 1.20 billion shares worth S$1.10 billion changed hands. There were 275 gainers and 243 decliners.

The top performing stock in Straits Times Index was Yangzijiang Shipbuilding (Holdings) which rose 3.39% to S$1.22, while the bottom performing stock was Jardine Matheson, falling 1.27% to US$50.35.

The local banks were higher. United Overseas Bank was down 0.03% to S$30.09, while Oversea-Chinese Banking Corp added 1.12% to S$12.68 and DBS was up 0.23% to S$34.64.

Most key Asian markets also closed higher. Hong Kong's Hang Seng, Japan's Nikkei 225, South Korea's Kospi and the FTSE Bursa Malaysia KLCI rose between 0.2% and 1%. Australian shares hit a four-week high after gains across most sectors sent the bourse up 0.9%.

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