Market Update: STI ends week up by 0.52%

The Straits Times Index (STI) closed the week up by 16.99 points or 0.53% at 3,201.76.

Top performers for Friday were Singtel with $2.55 or 4.94% in gains, and Singapore Airlines which increased by 1.12% or $5.40. These were followed by Jardine Matheson, which went higher by 0.98% or $65, on the back of the completion of Jardine Strategic acquisition.

About 1.57-billion securities worth $1.27b changed hands, with stock advancers outnumbering decliners, 282 to 183.

Regional stock markets lagged global shares as upbeat US retail sales and manufacturing data, and record economic growth in China for the first quarter were offset by worries over surging infections.

On Wall Street, the S&P 500 and Dow Industrial indexes were on their fourth straight week of gains after boosts on earnings of US banks, whilst the NASDAQ was near to hitting its all-time closing high on positive corporate earnings.

S&P 500 closed the week up 0.36% or 15.05 points higher at 4,185.47, whilst Dow Jones Industrial rose 0.48% or 164.68 points at 34,200.67. NASDAQ also grew 0.10% or 13.58 points at 14,052.34.

Meanwhile, London’s FTSE 100 has reached its 7,000 mark for the first time since the pandemic due to drop in COVID-19 infections and economic rebound. It has closed the week higher by 0.52% or 36.03 points to end at 7,019.53.

The FTSE 250 also reached up 0.22% or 50.14 points, closing at 22,522.18.