Singapore stocks up with Wall Street, regional markets rally
Tuesday, October 04, 2022       17:16 WIB

ASIAN equities, including Singapore's, were cued by Wall Street's overnight relief rally, and wrapped up trading higher on Tuesday (Oct 4).
Factory data from the United States last night showed that the world's top economy had underperformed, and this made investors hopeful that the hawkish Federal Reserve might ease its interest rate hikes.
While a handful of markets closed by notching over 2 per cent higher, Singapore's blue-chip benchmark, Straits Times Index (STI), managed to rise only 1.02 per cent or 31.81 points to 3,138.9 points, as some of the sizzle had fizzled out by the time the closing bell rang.
Singtel : Z74 +0.38%shares rose 0.4 per cent, closing at S$2.61, a day after it said its Australian subsidiary Optus had the personal identification data of some 2.1 million of its 9.8 million customers leaked in a cyberattack in late September, which Bloomberg reported might cost the telco to incur a cost of as much as US$560 million.
Sats : S58 0% shares remained sluggish despite its counterpart and key customer in the aviation sector Singapore Airlines (SIA) : C6L +0.99% having said it would raise frequencies to East Asia. The inflight caterer and ground handler's acquisition it proposed last week of air cargo handler Worldwide Flight Services led the counter to fall off the cliff. Sats shares were flat at S$2.99, compared to SIA's 1 per cent rise to S$5.11 at market close.
Across the broad stock market, counters closing up beat those that were down 277 to 88, on a turnover of 919.8 million securities worth a total of S$966.49 million.

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