At closing bell, the Straits Times Index (STI) index was up 17.02 points, or 0.5%, to 3,394.21, after trading between 3,379.15 and 3,395.79. Volume was 1.56 billion shares worth S$1.40 billion changed hands. There were 335 gainers and 222 decliners.
The top performing stock in Straits Times Index was Keppel DC REIT which rose 2.95% to S$2.09, while the bottom performing stock was Yangzijiang Shipbuilding (Holdings), falling 1.57% to S$1.25.
The local banks were higher. United Overseas Bank was up 0.2% to S$30.19, while Oversea-Chinese Banking Corp added 0.46% to S$13 and DBS was up 0.76% to S$35.97.
In corporate news, shares of Frasers Centrepoint Trust rose nearly 2%, as the trust teamed up with Frasers Property to acquire a 50% stake in Singaporean retail mall NEX for S$652.5 million.
Amos Group shares climbed up 9% after the company raised about S$4.1 million in net proceeds from its rights issue of up to 29,761,576 shares.
Markets in the Asia-Pacific traded modestly higher on Friday, 27 January 2023, on tracking positive cues from Wall Street overnight, thanks to upbeat U.S. economic data, including stronger than expected GDP growth and a more than expected surge in economic activity in the fourth quarter.
Australia's &P/ASX200 index was up 0.34%, to 7,493.83. Japan's 225-issue Nikkei Stock Average index edged up 0.07% to 27,382.56. Hong Kong's Hang Seng index advanced 0.54% to 22,688.90, South Korea's KOSPI index grew 0.6% to 2,484.02, and Taiwan's Taiex index rose 0.04% to 14,932.93. India's Nifty50 index slid 1.7% to 17593.70. China market closed for the Lunar New Year holiday.
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