Singapore stocks climb along with Asia; TalkMed recoups

Singapore equities climbed more than 1 percent on Thursday, following a rally in Asian shares as hopes of global economic growth gained prominence.

SGX
SGX Logo. Reuters

Singapore equities climbed more than 1 percent on Thursday, following a rally in Asian shares as hopes of global economic growth gained prominence after hawkish comments from major central banks.

The Straits Times Index rose 1.15 percent or 37 points to 3,252. It ended 0.12 percent lower on Wednesday, taking the year-to-date gains to 12 percent.

Banks and technology shares led gains in the MSCI Asia Pacific Index after the S&P 500 Index rebounded from the biggest selloff in six weeks.

The U.S. dollar weakened, helping boost commodities in general, with gold up 0.3 percent to $1,253.09 an ounce.

Central banks around the globe are signalling an end to easy money and need for rate increase, suggesting the global economy can withstand tighter financial conditions.

The gainers included healthcare services provider TalkMed Group, which jumped 7 percent after Wednesday's 13.4 percent slump.

Hospitality services provider Genting Singapore also rose 1.8 percent.

Among the laggards, Great Eastern Holdings and Japfa fell 2.2 percent and 1.5 percent, respectively.

About 1.1 billion shares worth S$697 million changed hands, with gainers outnumbering losers 270 to 138.

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SGX
SGX Logo. Reuters

Singapore equities climbed more than 1 percent on Thursday, following a rally in Asian shares as hopes of global economic growth gained prominence after hawkish comments from major central banks.

The Straits Times Index rose 1.15 percent or 37 points to 3,252. It ended 0.12 percent lower on Wednesday, taking the year-to-date gains to 12 percent.

Banks and technology shares led gains in the MSCI Asia Pacific Index after the S&P 500 Index rebounded from the biggest selloff in six weeks.

The U.S. dollar weakened, helping boost commodities in general, with gold up 0.3 percent to $1,253.09 an ounce.

Central banks around the globe are signalling an end to easy money and need for rate increase, suggesting the global economy can withstand tighter financial conditions.

The gainers included healthcare services provider TalkMed Group, which jumped 7 percent after Wednesday's 13.4 percent slump.

Hospitality services provider Genting Singapore also rose 1.8 percent.

Among the laggards, Great Eastern Holdings and Japfa fell 2.2 percent and 1.5 percent, respectively.

About 1.1 billion shares worth S$697 million changed hands, with gainers outnumbering losers 270 to 138.

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