Singapore stocks hit record 5,780 after rising 36 points

  • Singapore stocks rose to a record as Wall Street’s technology rally supported gains.
  • 36 points, or 0.6%, lifted the index to 5,780 around Thursday noon.
  • Traders awaited Friday’s July retail sales data after June sales accelerated.

Singapore stocks climbed 36 points, or 0.6%, to a record 5,780 around noon on Thursday, extending the previous session’s gains as heavyweight technology shares drove an overnight Wall Street rally. Sentiment was also supported by a private survey showing Singapore’s private sector continued to grow solidly in August. Non-energy minerals, transportation, producer manufacturing and finance were the main contributors to the broader index. Gains were moderated by rising oil prices, which intensified inflation concerns and strengthened expectations of an interest-rate increase amid escalating Middle East tensions. Investors were also awaiting July retail sales data due Friday, after sales accelerated in June. DFI Retail Group led the listed gainers with a 3.4% rise, followed by Hong Kong Land at 2.8%, Yangzijiang Shipbuilding at 1.7%, DBS Group at 1.3% and OCBC at 1.2%.

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