Singapore stocks end higher as Middle East conflict enters third week; STI up 0.6%

Singapore stocks closed higher on March 16 as investors monitor the Middle East conflict and await the US Federal Reserve's policy meeting. Read more at straitstimes.com.

SINGAPORE - Singapore stocks ended higher on March 16, as the conflict in the Middle East entered its third week and investors looked ahead to the US Federal Reserve’s upcoming monetary policy meeting.

The benchmark Straits Times Index (STI) gained 0.6 per cent, or 26.42 points, to close at 4,868.69. The iEdge Singapore Next 50 Index, however, fell 0.5 per cent, or 7.5 points, to 1,436.05.

Within the iEdge Singapore Next 50 Index, First Resources was the top gainer, rising 4.1 per cent to $2.79. Sasseur REIT was the biggest decliner, falling 6.6 per cent to 63.5 cents.

Across the broader market, gainers outnumbered losers 312 to 274, after 1.4 billion securities worth $1.8 billion changed hands.

Key regional indexes were mixed. Hong Kong’s Hang Seng Index gained 1.5 per cent and South Korea’s Kospi rose 1.1 per cent, while Japan’s Nikkei 225 fell 0.1 per cent and Malaysia’s FTSE Bursa Malaysia KLCI slipped 0.1 per cent.

Bourse operator Singapore Exchange led the STI gainers, rising 2.9 per cent, or 53 cents, to close at $18.93.