Singapore stocks close flat on March 6 amid cautious calm in Asian markets

Singapore stocks finished flattish on March 6, as calmness returned to key Asian markets. Read more at straitstimes.com.

SINGAPORE - Singapore stocks finished flattish on March 6, as a “tense” calmness returned to key Asian markets even as missiles continued to rain over the Middle East.

The benchmark Straits Times Index (STI) grew a marginal 0.03 per cent or 1.69 points to finish at 4,848.25. This brought the blue-chip index down 2.9 per cent for the week.

Meanwhile, the iEdge Singapore Next 50 Index rose 0.7 per cent on Friday, adding 10.73 points to reach 1,450.97.

Key regional indexes also finished higher. Hong Kong’s Hang Seng Index climbed 1.7 per cent, Japan’s Nikkei 225 index added 0.6 per cent, South Korea’s Kospi edged up 0.02 per cent, and the FTSE Bursa Malaysia KLCI gained 0.3 per cent.

“Risk assets are stabilising because the two biggest pressure points in the system – the US dollar and oil – have both eased slightly,” said SPI Asset Management managing partner Stephen Innes.

“The result is a market that feels tense but not broken,” he added. “But the message from volatility markets is clear. The calm is conditional. As long as crude trades in a contained range, equities can rebuild their footing.”