LSCC

The Straits Times Index rose 31.07 points, or 0.59%, to close at 5,289.66 on Wednesday, extending Tuesday's rebound. It traded between a low of 5,257.31 and a high of 5,317.23. Of the 30 basket constituents, 15 advanced, 11 declined and 4 closed unchanged, with technology manufacturing, aviation services and engineering names leading and the three local banks each up 0.54% to 0.85%.

The index remains about 7 points below Thursday's close of 5,296.25, so the two-day recovery has not yet fully reversed the previous week's fall. The advance was uneven: gains came from industrial and technology-linked stocks, while almost every property and REIT constituent in the basket closed lower.

Session Movers

Venture (V03.SG, +5.22%) rose to $15.31, the basket's biggest gainer. The company disclosed on Nov. 6 that working capital rose to S$1.06 billion at Sept. 30 from S$830.8 million at end-2025, which it attributed to higher inventories built to secure critical components and meet growing customer demand; net asset value per share edged up to S$9.54 from S$9.45 a year earlier. No new company announcement was recorded today.

ST Engineering (S63.SG, +2.20%) rose to $9.74. The group reported S$560 million of new contracts in the third quarter on Oct. 27, with gains across all three business segments, and signed nuclear-energy cooperation MOUs with Sembcorp Industries and others the same day.

Singtel (Z74.SG, +1.22%) rose to $4.14. On Nov. 4 it signed an MOU with NUHS and Ericsson on connected healthcare using 5G-Advanced and 6G, establishing the National University XG AI Centre. Earlier, on Nov. 2, media reported that KKR, Singtel and Tata Communications had put data-centre company STT GDC India up for sale at more than $5.5 billion.

MPACT (N2IU.SG, -2.54%) fell to $1.15, the steepest decliner among the movers. Its second-quarter results on Oct. 30 showed gross revenue down 5% to $207.5 million and net property income down 6.3% to $153.5 million, on weakness in China and Hong Kong, asset divestments and higher property taxes. Distribution per unit fell 3.5% to about 1.95 cents; VivoCity growth and a +3.5% first-half rental reversion partly offset the decline.

One point worth noting

Ten of the 11 decliners in the basket were property developers, landlords or REITs: MPACT (-2.54%), Frasers Centrepoint Trust and UOL (both -1.38%), CICT (-1.27%), City Developments (-1.25%), Frasers Logistics & Commercial Trust (-1.12%), CapLand Ascendas REIT (-0.89%), Hongkong Land (-0.84%), Mapletree Industrial Trust (-0.57%) and CapitaLand Investment (-0.42%). The index gain therefore came from a narrower group of stocks than the 15-to-11 breadth suggests, and it coincided with a split between industrial leaders and property-linked names rather than a market-wide advance.