Market Update: STI ends trading week flat; up 0.2%

The Straits Times Index closed the week flat with a modest gain of 6.26 points or 0.2%, ending at 3,194.04.

Top performers for the day were Jardine Matheson with 2.41% or $65.48 in gains, Keppel which rose by 2.25% or $5.45, and Yangzijiang Shipbuilding which went up 2.17% or $1.41.

About 1.18-billion securities worth $1.10b changed hands, with stock advancers outnumbering decliners, 247 to 217.

Asian stocks also traded mixed after reports of US President Joe Biden proposing to raise taxes on capital gains.

Meanwhile, Wall Street indexes closed the week on a rise amidst a solid economic activity, brushing off the reports on capital gains tax hike.

S&P 500 climbed by 1.09% or 45.19 points to 4,180.17. The Dow Jones Industrial increased by 0.67% or 227.59 points to close at 34,043.49, whilst the NASDAQ jumped by 198.40 points or 1.44% at 14,016.81.

The London blue-chip index also ended the week flat, with FTSE 100 gaining merely 0.32 points or 0.01% to close at 6,938.56 despite the UK's positive economic data and as European markets continue to struggle.

The FTSE 250 also inched up 0.03% or 7.39 points to close at 22,372.26.

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