Singapore stocks rally along with global equities

Singapore stocks edged higher on Thursday, tracking gains in other Asian equities after the Dow Jones index closed above 23,000 for the first time.

sgx
Reuters

Singapore stocks edged higher on Thursday, tracking gains in other Asian equities after the Dow Jones index closed above 23,000 for the first time.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.2 percent, nearing a 10-year peak scaled on Tuesday.

China reported its economy expanded 6.8 percent last quarter, with retail sales and industrial output accelerating in September.

At 0415 GMT, the Straits Times Index rose 0.39 percent or 13 points to 3,342. It ended 0.12 percent higher on Monday, taking the year-to-date performance to about 15 percent. Singapore financial markets will remain shut on October 18 on account of Deepavali.

United Overseas Bank rose 0.8 percent and DBS Group Holdings rose 0.5 percent.

Shares in CapitaLand rose 1.6 percent after its serviced residence business unit, The Ascott said it invested S$81.5 million to acquire and refurbish a freehold hotel in Silicon Valley, California.

Logistics firm CWT on Thursday said will be suspended from trading after November 2 due to an insufficient free float. Its shares rose 0.4 percent.

Singapore Medical Group on Thursday said it acquired a paediatric clinic, babies and Children Specialist Clinic Pte. for S$7.9 million. Shares in the company were unchanged at S$0.62.

About 1.2 billion shares worth S$611 million changed hands, with losers outnumbering gainers 203 to 144.

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