2 weeks Ago By The Straits Times
The local benchmark index rose 0.6 per cent or 22.99 points to 3,593.
42. Yong Jun Yuan SINGAPORE - Singapore stocks continued their upward rally on Sept 17 as the Straits Times Index (STI) posted a new 52-week high. Investor sentiment appeared upbeat as Enterprise Singapore data showed the Republic’s key exports rose 10.
7 per cent in August, although the figure fell short of private-sector economists’ expectations of 15 per cent growth. The local benchmark index rose 0.6 per cent or 22.
99 points to 3,593.42. Across the broader market, gainers beat losers 355 to 205, after 1.
2 billion securities worth $1.5 billion changed hands. Across the region, Hong Kong’s Hang Seng Index gained 1.
4 per cent, the Jakarta Composite Index rose 0.3 per cent, and the Kuala Lumpur Composite Index was up 0.7 per cent.
But Japan’s Nikkei 225 shed 1 per cent. Ms Saira Malik, chief investment officer and head of equities and fixed income at investment firm Nuveen, said defensive equities, especially dividend growers, will be favoured against a backdrop of economic and political uncertainty. “Companies are typically reluctant to cut their dividends, since that can signal stress to investors.
On the other hand, companies that continually increase their dividends are bearing the fruit of robust business models and cash flows,” she said. She also said the potential combination of attractive risk-adjusted returns and lower volatility makes dividend growers a “sound choice” for core portfolio allocation. DFI Retail Group was the top STI gainer, rising 3.
9 per cent to US$1.88. Frasers Centrepoint Trust was at the bottom of the table, falling 1.
3 per cent to $2.36. Of the trio of local banks, DBS Bank closed unchanged at $38, while OCBC Bank rose 0.
3 per cent to $15.28 and UOB gained 0.8 per cent to $32.
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