Straits Times Index loses 1.2% due to profit taking

The benchmark Straits Times Index gave up some of its recent gains on Thursday, declining 39.08 points or 1.19 per cent to 3,235.68.

Across the Singapore market, there were 230 decliners but only 201 stocks that rose.

Some 3.81 billion shares worth $1.29 billion changed hands.

Traders blamed profit-taking after the Singapore market rose for three straight sessions.

Market newcomer OUE Hospitality Trust closed at 88 cents, unchanged from its initial public offering (IPO) price.

SPH Reit, which had listed on Wednesday, slipped half a cent to 98 cents. SPH Reit's offer price had been 90 cents.