Roundup: Singapore stocks end up 0.48 pct on Tuesday

0 Comment(s)Print E-mail Xinhua, October 6, 2020
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SINGAPORE, Oct. 6 (Xinhua) -- Singapore shares closed 0.48 percent higher on Tuesday, lifted by news that U.S. President Donald Trump has left the hospital and returned to the While House.

U.S. markets rebounded on Monday after White House said there is still potential for a deal on the coronavirus relief package, as Treasury Secretary Steven Mnuchin is still in constant contact with House speaker leader Nancy Pelosi.

Meanwhile, crude oil prices rose on news of Trump leaving hospital which fueled risk appetite among traders.

MayBank-Kim Eng Retail Research said "technically, the Straits Times Index Is poised to reverse its four-month downtrend by breaking above its 50-day moving average at 2,522 points with next hurdle at 2,570 points and downside support at 2,450 points."

Singapore's benchmark Straits Times Index rose 12.03 points to 2,529.26 points. Trading volume was 967.47 million shares worth 1 billion Singapore dollars. Advancers outnumbered decliners 247 to 178.

Singapore Airlines rose 1.43 percent to 3.55 Singapore dollars. Together with its regional arm, SilkAir, the carrier will be reinstating flights to Brunei, Fukuoka in Japan, Kathmandu in Nepal and Male in the Maldives in the next three months. Flights will increase on some existing routes such as Bangkok and Melbourne, to a daily basis on most days in December, while frequencies to other cities, including Dhaka, Hong Kong and Amsterdam, will also be stepped up. All other flights originally scheduled for October to December but not listed in its updated schedule are cancelled. It expects to restore flights gradually, reaching around 15 percent of its passenger capacity by the end of this year, and less than 50 percent by March next year.

Among top gainers, Jardine Matheson rose 1.26 percent to 42.57 U.S. dollars, while Jardine Cycle and Carriage became one of the top losers by falling 0.22 percent to 18.10 Singapore dollars. (1 U.S. dollar equals to 1.36 Singapore dollars) Enditem

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