Market Update: STI ends with modest gains for second straight day

The Straits Times Index closed on Tuesday at 2,935.34, up by about 3.82 points or 0.13%.

Investors were looking into the national budget for the year, anticipating the support for the sectors hardest hit by the pandemic.

Most Asia stocks ended on a positive note, still owing to the US stimulus package, dovish monetary policy, and upbeat trading in the Wall Street last week.

About 2.69-billion securities worth S$1.12-million changed hands with advancers outnumbering decliners, 242 to 217.

Top performers for the day were Singapore Airlines with a 1.38% or S$0.06 gain, Wilmar International up 1.29% or S$0.07, and JSH USD which went higher by US$0.25 or 0.99%.

Wall Street, meanwhile, traded mixed as it tracked gains in the European equities markets.

The S&P 500 slipped by about 0.06% or 2.24 points at 3,932.59. The NASDAQ also lowered by 0.34% or 47.97 points closing at 14,047.50, while THe Dow Jones Industrial climbed by about 64.35 points or 0.20% at 31,522.75.

The London's blue-chip index closed lower despite the optimism of UK Prime Minister Boris Johnson that the stricter lockdown will be eased down soon as the vaccine rollout continues.

The FTSE 100 ended down by 0.11% or 7.25 points at 6,748.86. FTSE 250 also went lower by 0.01% or 2.53 points ending at 21,416.37.