Boosted by expectations of interest rate cuts, the local stock market closed up 0.62% | Lianhe Zaobao
Affected by the expectation of a rate cut in December by the United States, Asian stock markets generally rose. The FTSE Straits Times Index rose by 0.62%, closing at 4,496.63 points. The trading volume was 2.1 billion shares, with a total trading value of SGD 3.18 billion. JMH USD and Hongkong Land had the largest gains, rising by 8.71% and 3.95%, respectively. Singapore Exchange and Genting Singapore had the largest declines, falling by 1.08% and 0.68%, respectively. Overall, the Asia-Pacific stock markets saw more gains than losses, with the Hong Kong stock market rising by 1.97% and Sydney rising by 1.29%
Market expectations for a rate cut in the U.S. in December have risen, boosting Asian stock markets. The FTSE Straits Times Index closed up 27.49 points or 0.62% on Monday (November 24), ending at 4496.63 points.
On Monday, the local stock market recorded a total trading volume of 2.1 billion shares, with a total turnover of SGD 3.18 billion. There were 336 gainers and 238 losers.
In terms of the constituents of the index, 23 stocks rose, one remained flat, and six declined.
The biggest gainers in the index were JMH USD and Hongkong Land, which rose 8.71% and 3.95%, closing at USD 67.56 and USD 6.58, respectively.
The largest decliners were Singapore Exchange (SGX) and Genting Singapore, which fell 1.08% and 0.68%, closing at SGD 16.54 and SGD 0.73, respectively.
The Asia-Pacific stock markets saw more gainers than losers. The Hong Kong stock market rose 1.97%, Sydney increased by 1.29%, Taiwan was up 0.26%, while Shanghai and Shenzhen rose 0.05% and 0.87%, respectively. The Seoul stock market slightly declined by 0.19%. The Tokyo stock market was closed for a holiday
