Singapore Stock Market Closes 0.5% Higher

Singapore share prices ended 0.5% higher on Friday on hopes US jobs numbers out later Friday will show some signs of stability and point to a recovery in the world’s largest economy.

The gains came despite a sell-off in regional equities, which was triggered by general investor disappointment over the European Central Bank’s latest response to the region’s debt crisis.

Singapore’s blue-chip Straits Times Index climbed 15.14 points to end at 3,051.33. In the broader market, 1.32 billion shares changed hands. Gainers outnumbered losers 217 to 141.

Real estate plays were among the gainers, helped by strong share price performance by property stocks in China and Hong Kong on the back of hopes of more market-boosting measures.

Global Logistic Properties rose 1.8% to S$2.33, CapitaLand climbed 2.3% to S$3.12 and CapitaMalls Asia was up 1.2% to S$1.67.

DBS Group Holdings gained 0.4% to S$14.75, after it reported a 10 per cent on-year rise in second-quarter net profit to S$810 million.

via ChannelNewsAsia

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza