STI up 0.7% as mood shifts from US to more stable S’pore market

The rally at the Singapore bourse continued on Sept 30, on the back of a rotation of funds from investors who are concerned about the possibility of a shutdown of the United States government.

- Tay Peck Gek

The Straits Times Index (STI) rose 30.18 points or 0.7 per cent to 4,300.16.

Across the broader market, gainers beat decliners 329 to 249 on a high trading volume of 2.1 billion securities. The total transaction value was $1.8 billion.

Mr Isaac Lim, Moomoo Singapore’s chief market strategist, said the STI uptick could be attributed to a risk-off play by investors, who are rotating into the more stable Singapore market as they get increasingly worried about a potential temporary closure of the US government.