Singapore shares begin week in the red
Sign up now: Get ST's newsletters delivered to your inbox
The benchmark Straits Times Index fell 0.2 per cent to finish at 3,128.08.
ST PHOTO: DESMOND WEE
Follow topic:
SINGAPORE (THE BUSINESS TIMES) - Local shares began the week on a softer note as Covid-19 vaccine availability, renewed pandemic-induced lockdowns in some countries and tense United States-China trade talks continued to weigh on investor optimism.
The benchmark Straits Times Index (STI) fell 0.2 per cent to finish at 3,128.08. Across the broader market, advancers outnumbered decliners 247 to 226, with 1.85 billion securities worth $1.41 billion changing hands.
The bearish sentiments were evident in markets across the region. The Nikkei 225 lost 2.1 per cent; the Hang Seng Index fell 0.4 per cent, while the KLCI shed 0.6 per cent.
Meanwhile, the Kospi and Jakarta Composite Index lost 0.1 per cent and 0.9 per cent respectively.
Mr Stephen Innes, chief global market strategist at Axi, noted that Asia "hasn't been spared the wrath of higher US rates".
However, he noted that the likely protracted recovery in local demand across the region appears to be a more significant factor.
Among the 30 constituent counters, only eight ended the day in the black. City Developments was the biggest index gainer, adding 3 per cent or 23 cents to $7.89. Wilmar International was another constituent advancer, gaining 2.3 per cent or 12 cents to $5.39.
Singtel was the biggest loser on the index, closing 1.3 per cent down at $2.36.
Across the bourse, Jardine Matheson Holdings was the biggest decliner. The stock fell 0.7 per cent to US$66.70.
The trio of local lenders ended the day in the red. DBS Bank fell 0.5 per cent to $28.38, UOB shed 0.5 per cent to $25.45, while OCBC Bank lost 0.7 per cent to $11.54.
AusGroup was the most heavily traded stock, with some 175.8 million shares changing hands. The counter closed at 3.3 Singapore cents, up 6.5 per cent. Other actively traded counters were Ley Choon, OKH Global and Oceanus.
