Market Update: STI extends gains, starts trading week up 0.25%

The Straits Times Index (STI) opened the trading week up by 7.96 points or 0.25% at 3,209.72, extending gains from the previous week to end in positive territory.

The top performer for Monday was Sembcorp Industries with $2.13 or 9.79% in gains. This was followed by Yangzijiang Shipbuilding which increased by 5.38% to $1.37, and Singapore Exchange which went higher by 2.32% to $10.59.

A total of 2.46-billion securities worth $1.66b changed hands, with gainers outnumbering losers, 244 to 224.

Meanwhile, record highs of major Wall Street indexes eased off as investors shifted focus to companies’ quarterly results to justify high valuations.

The S&P 500 slipped 22.21 points or 0.53% at 4,163.26, whilst the Dow Jones Industrial fell 123.04 points or 0.36% at 34,077.63. The NASDAQ was also down 137.58 points or 0.98% at 13,914.77.

London's blue-chip index also reversed its earlier gains due to a stronger pound and as weaker oil prices weighed on energy firms.

The FTSE 100 managed to stay above the 7,000 mark by a whisker, as it dropped 0.28% or 19.45 points at 7,000.08. The FTSE 250 index also went down 31.32 points or 0.14% at 22,490.86.