SINGAPORE – Singapore stocks ended higher on Jan 30, reflecting gains in US markets overnight.
The benchmark Straits Times Index (STI) rose 0.3% (9.73 points) to 3,150.04. Declining issues outnumbered advancing issues in the overall market, 333 to 251, with 1.64 billion shares worth $1.14 billion traded.
Mapletree Pan Asia Commercial Trust was among the STI gainers, rising 3.6%, or 5 cents, to $1.44. The company’s managers said on January 29 that distributions per unit for the third quarter ended December 31, 2023 decreased by 9.1% to $0.022. Total revenue for the quarter was $241.6 million, an increase of 0.8% from $239.8 million in the previous quarter.
Mapletree Logistics Trust was one of the top trading counters on January 30 after 20.4 million transactions worth $31.8 million were made. The counter closed up 2% or 3 cents at $1.56.
The trust has entered into a purchase agreement with an unrelated third party to sell the property at 73 Tuas South Avenue 1 for $16.8 million, its administrator announced Jan. 29.
Three local banks ended the day’s trading lower. DBS Bank fell 0.2% or 7 cents to $31.82, OCBC Bank fell 0.5% or 6 cents to $12.82 and UOB fell 0.2% or 5 cents to $28.26.
Major regional indices were mixed. The Hang Seng Index ended 2.3% lower, the Kospi Composite Index 0.1% lower and the FTSE Bursa Malaysia KLCI 0.2% lower. The Nikkei Stock Average rose 0.1%.
Stephen Innes, managing partner at SPI Asset Management, said the past week, which featured a range of influential macroeconomic data, policy decisions and major earnings reports, has made some investors’ said the US Treasury’s funding estimates and repayment details are considered the most important events. Geopolitical developments.
He pointed to the positive reaction from bond and equity markets after the US Treasury lowered its borrowing forecast for the first quarter to US$760 billion (S$1 trillion).
“Overall, the Treasury’s downward revision of borrowing requirements in the first quarter is expected to have a positive impact on global financial markets,” Innes said.business hours