Singapore stocks rise on blue-chip gains; STI up 1%

[SINGAPORE] Singapore stocks ended higher on Thursday (Aug 6).

The benchmark Straits Times Index (STI) gained 1 per cent or 57.62 points to finish at 5,638.99.

DFI Retail Group led the gainers on Singapore’s blue-chip index, rising 3.7 per cent or US$0.14 to US$3.91.

The worst performer among STI constituents was Mapletree Pan-Asia Commercial Trust , which fell 3 per cent or S$0.04 to S$1.29.

The three local banks ended higher. DBS gained 2.1 per cent or S$1.53 to S$75.08, OCBC rose 2.4 per cent or S$0.70 to S$29.33, and UOB was up 1.2 per cent or S$0.52 at S$43.58.

The iEdge Singapore Next 50 Index gained 0.3 per cent or 4.67 points to 1,544.27.

Within the iEdge Singapore Next 50 Index, First Resources was the top gainer, rising 4.5 per cent or S$0.16 to S$3.75, while CDL Hospitality Trusts was the biggest decliner, falling 3.8 per cent or S$0.03 to S$0.76.

Across the broader market, gainers trailed losers 239 to 338, after 896.7 million securities worth S$2.1 billion changed hands.

Key regional indices were negative. Hong Kong’s Hang Seng Index lost 1.5 per cent, Japan’s Nikkei 225 fell 0.9 per cent, South Korea’s Kospi was down 4.6 per cent and the FTSE Bursa Malaysia KLCI declined 0.6 per cent.

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In a Thursday note, OCBC executive director for wealth advisory Afdhal Rahman shared that the recent regional pullback reflects a broadening market rather than a loss of confidence, with capital rotating into “less-loved segments” such as financials.

While semiconductors and the artificial intelligence theme have taken a breather after a strong first half, sectors such as financials and healthcare have quietly stepped up, he noted. 

“Ultimately, sensational headlines about declines in tech and semiconductors mask a more constructive underlying picture: one of broadening participation and leadership rotating from outperformers to underperformers,” he said.

This article has been written with the assistance of AI and reviewed by a reporter.