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Friday, 26 April 2013

Singapore's STI ends at new 5-year high


SINGAPORE - Singapore shares continued to climb on Friday, rising to a fresh five-year closing high.

The blue-chip Straits Times Index (STI) ended up 11.16 points at 3,348.87 -- its highest close since January 7, 2008. It added 1.7% for the week.

In the broader market, 2.18 billion shares valued at S$1.44 billion changed hands.

Gainers beat losers 269 to 165.

Among the losers, Olam ended off 0.3% at S$1.665 after initially trading up as much as 3.0% on the release of its strategic review saying it will slow its investment pace and reduce loans -- addressing some concerns raised by short seller Muddy Waters in a report.

CapitaLand rose 2.0% to S$3.65 ahead of its earnings release. After the market closed, it announced first-quarter net profit rose 41% on year to S$188.2 million. 

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