Fri, Jul 12, 2019 – 1:25 PM
SINGAPORE stocks held onto their gains as trading resumed on Friday afternoon, after Singapore released worse-than-expected second quarter GDP performance numbers in the morning.
The Straits Times Index advanced 0.28 per cent or 9.45 points on the day to 3,359.90 as at 1.03pm.
Losers outnumbered gainers 188 to 160, after 640.3 million securities worth S$535.7 million changed hands.
Reenova Investment was the most heavily traded stock, unchanged at S$0.003 after 23.7 million shares changed hands. Thai Beverage also traded flat at S$0.88 after 17.9 million of its shares were traded.
Suntec Reit units were down S$0.02 or 1 per cent at S$1.93 with 17.7 million shares traded.
Singtel remained one of the most active index stocks, trading unchanged at S$3.53.
The three local banks continued their green streak on Friday, with DBS up S$0.20 or 0.8 per cent to S$25.81, UOB up S$0.14 or 0.5 per cent to S$26.58, and OCBC gaining S$0.07 or 0.6 per cent to S$11.55.
Asian equities mostly rose in early trade on Friday but gains were slight after recent advances, with the focus now on the depth of an expected US interest rate cut.
In early trade, Hong Kong was up 0.4 per cent and Shanghai added 0.3 per cent while Tokyo went into the break marginally higher.
Seoul gained 0.3 per cent, Taipei was up 0.1 per cent and Manila rose 0.3 per cent.
But Sydney dipped 0.2 per cent, with Wellington 0.3 per cent down and Jakarta 0.1 per cent lower.
The broad gains follow another record lead from Wall Street, where the Dow ended above 27,000 for the first time.