Singapore stocks track regional gains on Monday; STI up 0.4%
[SINGAPORE] Local stocks ended higher on Monday (Oct 27), tracking gains in the region.
The benchmark Straits Times Index rose 0.4 per cent or 18.09 points to 4,440.3, while the iEdge Singapore Next 50 Index also gained 0.4 per cent to 1,443.59 points.
Across the broader market, gainers outnumbered losers 371 to 224, after 1.7 billion securities worth S$1.3 billion changed hands.
Elsewhere in the region, key indices ended higher. The Nikkei 225 gained 2.5 per cent, the Hang Seng Index rose 1.1 per cent, Kospi was up 2.6 per cent, while the FTSE Bursa Malaysia KLCI ended 0.3 per cent higher.
Stephen Innes, managing partner at SPI Asset Management, noted a “relief rally” in markets following US President Donald Trump’s attendance at the 2025 Asean Summit over the weekend.
“Washington and Beijing’s top trade lieutenants have quietly mapped out a framework that might, just might, keep the world’s two largest economies from tearing up the field again,” Innes said.
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Trump’s deals in South-east Asia “plays like a warm-up act” before his upcoming meeting with Chinese President Xi Jinping.
“Since April’s ‘Liberation Day’ tariffs, it’s felt like a never-ending game of tariff whack-a-mole,” he said. “This weekend hinted at something different – the sense that both sides have finally tired of the noise.”
On the STI, Yangzijiang Shipbuilding was the top gainer, rising 2.3 per cent to S$3.55.
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Jardine Matheson Holdings was the biggest decliner, falling 2.6 per cent to US$60.10.
The local banks ended higher. DBS gained 0.6 per cent to S$53.57, OCBC was up 0.5 per cent at S$16.85, while UOB rose 0.4 per cent to S$34.79.
