Daily Markets Briefing: STI up 0.2%

Blue chips were the biggest losers.

According to a note by KGI Fraser Securities, the STI inched lower by 0.16% in a day where regional markets (Japan Nikkei 225: +0.68%; Hong Kong HSI +0.37%; Shanghai Composite Index +3.13%) closed higher.

Gainers include CapitaLand (S$3.600; +1.98%), Global Logistic (S$2.730; +1.11%) and ST Engineering (S$3.600; +1.12%), while losers include Genting Singapore (S$0.945; -2.07%), SIA (S$11.580; -1.20%) and Sembcorp Industries (S$4.160; -0.95%).

Here's more from KGI Fraser:

Despite the lacklustre performance of the STI, the FTSE ST Small Cap Index managed to inch higher, up 0.48%, as investors looked to the low-priced penny stocks.

Elsewhere, European equities (CAC 40: +2.09%; DAX + 2.23%; FTSE 100 +0.38%) shot up after the ECB hinted that it may accelerate its bond-buying program over the next two months.

The US markets (DJIA +0.07%; S&P 500 -0.06%; Nasdaq -0.17%) ended the trading session lower as US stocks lost steam after closing at record highs the previous day. On a positive note, US housing starts jumped 20.2% in April, the fastest rate since late 2007.

Also Read

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