STI closes 1.73% higher at 2,840.93

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SINGAPORE (June 30): Singapore stocks closed higher on Thursday though the momentum was widely attributed to month-end window-dressing.

At 5.04pm, the benchmark Straits Times Index was up 1.73%, or 48.20 points, to 2,840.93. In the broader market, about 1.5 billion shares were traded, giving a value of $1.8 billion. There were 252 gainers against 138 decliners.

Noble Group led the most actives, rising 13.6% to 20 cents with 295 million shares traded. Annica was second with 119 million shares changing hands. Bellwethers SingTel, CapitaLand and OCBC Bank were also on the list.

Bank stocks were among the biggest gainers. UOB closed 2.6% at $18.42 while DBS closed 1.5% at $15.76. Singapore Exchange also ended 2.3% higher at $7.62 while SIA closed 1.1% to $10.66. Rigbuilders Keppel rose 1.7% to $5.50 while Sembcorp Marine rose 0.3% to $1.55.

Stocks of Jardine Cycle & Carriage, Jardine Matheson and Jardine Strategic rose between 1.2% and 2.8% to $36.50, US$58.31 and US$30.18 respectively. The price moves are likely due to volatility associated with Britain’s decision to leave the European Union, since Jardine companies are also listed in London.

Civmec finished 1.3% higher at 38.5 cents. The oil & gas and civil engineering company said it won a total of A$50 million ($50.1 million) in new contracts for major infrastructure projects in New South Wales, Australia.

Manhattan Resources closed 9.2% to 11.9 cents. The company said it completed the acquisition of a majority stake in PT Kariangau Power (PT KP) for $48.2 million after obtaining shareholders’ approval at an Extraordinary Meeting held on Wednesday.