Singapore shares close lower in tandem with Wall Street retreat; STI slides 0.3%
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The Straits Times Index fell 0.3 per cent or 13.44 points to 4,427.06.
ST PHOTO: BRIAN TEO
Tay Peck Gek
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- Singapore's Straits Times Index (STI) fell 0.3% to 4,427.06, mirroring Wall Street’s overnight retreat amid investor caution.
- Seatrium plunged 6.6% after a US$475 million contract was cancelled; PropNex rose 4.4% to a record high of $2.59.
- Addvalue Technologies was most active, rising 6.8% to $0.047; overall, decliners outnumbered gainers in the broader market.
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SINGAPORE – Singapore shares closed lower on Oct 10 after three major Wall Street indexes retreated overnight.
The blue-chip barometer Straits Times Index (STI) was a sea of red, dipping 0.3 per cent or 13.44 points to 4,427.06, with Thai Beverage and Seatrium bookending the 30-stock tally as the top and worst performers, respectively.
Thai Beverage closed up 2.1 per cent or one cent at 49 cents, while Seatrium plunged 6.6 per cent or 16 cents to $2.28. The marine engineering company had announced before market opening that a US$475 million (S$617 million) contract had been aborted.
Real estate agency PropNex closed at $2.59 – a record high – after its shares rose 11 cents or 4.4 per cent.
Addvalue Technologies was the top actively traded stock, with 83.4 million shares transacted by the time the counter closed 6.8 per cent, or 0.3 cent, higher at 4.7 cents – its 52-week high.
The banking counters had a mixed showing: OCBC Bank inched up 0.1 per cent or two cents to $16.88 and UOB was flat at $35.33, while DBS Bank declined 0.1 per cent or six cents to $53.85.
Decliners beat gainers across the broader market 371 to 250, as 1.8 billion securities valued at $1.4 billion were traded.
Overnight, the Dow Jones Industrial Average dropped 0.5 per cent to 46,358.42, the S&P 500 slid 0.3 per cent to 6,735.11, and the Nasdaq Composite was 0.1 per cent lower at 23,024.62, amid cautious investor sentiment over concerns of overheating in the market.
The STI closed 0.3 per cent up week on week. THE BUSINESS TIMES
