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Thursday, September 17, 2020-9: 49 am
SINGAPORE shares rose on Thursday after the Republic announced a 7.7 percent growth in domestic non-oil exports for the month of August, more than analysts had predicted.
The benchmark Straits Times Index (STI) gained roughly 0.2 percent or 4.42 points to 2,509.57 at 9:05 am.
The winners outnumbered the losers from 69 to 61, after 67.8 million securities worth S $ 83.6 million changed hands.
Among the most active stocks by volume was Sembcorp Marine, which was trading unchanged at 16.9 Singapore cents after 6.8 million shares changed hands at 9:05 a.m.
Wilmar International was also heavily traded, which gained 5.1 percent or S $ 0.22 to S $ 4.52, with 4.7 million shares traded. The agricultural trade giant said on Wednesday that it expects the listing of its Chinese unit, Yihai Kerry Arawana (YKA), to take place in mid-October. YKA has received final registration approval for listing on the ChiNext Board of the Shenzhen Stock Exchange, Wilmar added.
Thai Beverage Public co was trading unchanged at S $ 0.61, with four million shares changing hands.
All Singapore banks posted losses on Thursday morning. DBS fell 0.1% or S $ 0.02 to S $ 20.27. OCBC fell 0.1 percent or $ 0.01 to $ 8.52, while UOB fell 0.2 percent or $ 0.03 to $ 19.27. Following news that UOB had implemented a pay freeze, the trio said The Business Times who will remain committed to keeping jobs until the end of the year, but are actively managing staff costs.
Other active index accountants at Thursday’s open included Top Glove, which lost 4 percent or S $ 0.12 to S $ 2.88. Singapore Telecommunications gained 0.5 percent or S $ 0.01 to S $ 2.23.
Keppel Corp fell 0.5% or 0.02 Singapore dollars to 4.23 Singapore dollars. Its subsidiary Keppel Shipyard signed a five-year memorandum of understanding with the main board-listed offshore oil and gas contractor Dyna-Mac to explore “potential relationships and business opportunities” between the two on a non-exclusive basis, Dyna said. -Mac on Wednesday.
In the United States, Wall Street stocks mostly ended lower after a volatile session on Wednesday, as the Federal Reserve kept interest rates low and offered a cautious outlook on the economy.
Wednesday was a mixed session for the broader European market, with strong British exporter FTSE 100 hit by a stronger pound, although retail stocks rose after strong results from Inditex, owner of Zara.
Elsewhere in Asia, Tokyo shares opened lower on Thursday, following declines on Wall Street, a day after Japan’s parliament elected Yoshihide Suga as the country’s new prime minister.
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