Gate News message, April 16 — Singapore’s benchmark Straits Times Index (STI) declined 0.3%, or 13.37 points, to close at 5,007.83 on April 16, despite broader regional strength and growing optimism over US-Iran ceasefire negotiations.
Mapletree Logistics Trust led gainers, rising 1.6% to $1.26, while Singtel fell 1.8% to $4.83. Singapore’s three major banks all closed lower: DBS dropped 0.7% to $57.30, OCBC fell 1% to $22.66, and UOB declined 0.2% to $37.52. Trading volume reached 2.1 billion securities worth $2.3 billion, with gainers outnumbering losers 397 to 219.
Regional indexes posted stronger performances. Hong Kong’s Hang Seng Index (Hong Kong’s benchmark equity index) gained 1.7%, Japan’s Nikkei 225 (Japan’s benchmark index) rose 2.4%, South Korea’s KOSPI (South Korea’s benchmark index) advanced 2.2%, and Malaysia’s FTSE Bursa Malaysia KLCI (Malaysia’s benchmark index) climbed 0.4%. Jose Torres, senior economist at Interactive Brokers, noted that the U.S. stock market’s record-breaking rally has continued, propelling tech stocks to their 11th consecutive day of gains, with the S&P 500 and Nasdaq reaching record closing highs amid renewed hopes for Middle East peace.
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