On the daily, it broke out of its horizontal resistance to close higher on its uptrend parallel channel mid-line after some minor profit-taking.
2,634.570 +67.32 (2.62%)
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14 Apr 2020 17:43
By Claudia Tan
SINGAPORE shares closed higher on Tuesday after Monday?s subdued session, amid a lack of fresh leads for traders.
The Straits Times Index gained 67.32 points or 2.62 per cent to 2,634.57.
This comes as China reported better-than-expected trade data. Exports in March fell 6.6 per cent compared to the year-ago period - more favourable than the 14 per cent forecast. On the other hand, imports dipped 0.9 per cent compared to the expected 9.5 per cent plunge.
But Stephen Innes, AxiCorp?s chief global markets strategist, pointed out that the better figures were due to backlogged export data, which likely skewed the export component higher.
Also boosting sentiment for Asia was the announcement that critical states in the US are working to develop reopening protocols post-peak-virus, said Oanda?s Asia-Pacific senior market analyst Jeffrey Halley.
Against such a backdrop, benchmarks elsewhere in Asia also extended gains; China, Japan, Hong Kong, Malaysia and South Korea ended higher.
Across the Singapore market, advancers trumped decliners 367 to 122, with 1.70 billion securities valued at S$1.55 billion traded.
All but two of the STI constituents ended in the black. Dairy Farm International and the Singapore Exchange posted losses, slipping 1.63 per cent to US$4.83 and 1.73 per cent to S$9.67 respectively.
The best performer among was Mapletree Commercial Trust, with shares jumping S$0.11 or 6.63 per cent to S$1.77.
The most active STI counter was Yangzijiang Shipbuilding, which edged up S$0.05 or 5.32 per cent to S$0.99. Singtel was also among the most actively traded stocks, gaining S$0.08 or 2.92 per cent to S$2.82.
The banking trio also outperformed the benchmark. DBS rose S$0.58 or 3.01 per cent to S$19.86, and UOB gained S$0.52 or 2.58 per cent to S$20.70; OCBC reversed yesterday's losses, gaining S$0.20 or 2.24 per cent to S$9.12.
Source: Business Times Breaking News
Source and recommended reads
https://sginvestors.io/market/sgx-share-price-performance/straits-times-index-constituents
https://sginvestors.io/market/sgx-breakout-price-3-month-high-volume-above-average
https://sginvestors.io/market/sgx-breakout-price-3-month-low-volume-above-average
https://www.investingnote.com/posts/1852141
Singapore business news
https://www.businesstimes.com.sg/stocks
https://www.straitstimes.com/business/companies-markets
https://www.theedgesingapore.com/
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