STI advances further to reach new 17-year high, 83 points below all-time high
Among its 30 components, Hongkong Land gained the most throughout the trading day, at 3.99%. Sembcorp Industries gained 2.73%, while Yangzijiang Shipbuilding rose 2.33%.
The Straits Times Index (STI) closed 22.74 points higher, or 0.6% up, at 3,822.68 points on Dec 5.
Among its 30 components, Hongkong Land gained the most throughout the trading day, at 3.99%. Sembcorp Industries U96 gained 2.73%, while Yangzijiang Shipbuilding rose 2.33%.
The STI had closed at 3,799.94 points on Dec 4, marking the sixth consecutive trading day with gains after the index ended Nov 27 at 3,708.09 points. The index crossed the 3,800 level on Dec 3.
On Dec 5, the index reached an intra-day high of 3,842.71 points right before the midday break, before plunging to a day’s low of 3,810.11 points around 3pm.
The intra-day high was a 17-year high for the STI, bringing the index closer to its all-time high of 3,906.16, which it notched in October 2007.
The STI is up nearly 24% year to date. Ahead of the 1HFY2024 results season, shares of Singapore’s three local banks advanced in July, bringing the STI above the 3,400-mark for the first time in two years. The STI reached a six-year high on July 10.
While the STI fell the following month to the 3,200 level, it rebounded and crossed 3,600 points in late-September.
Chart: SGX
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