Singapore shares decline amid mixed regional showing; STI down 0.1%
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The benchmark Straits Times Index fell 0.1 per cent or 4.33 points to 3,580.96.
ST PHOTO: SHINTARO TAY
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SINGAPORE - Local stocks fell into the red on Oct 1, as regional markets ended mixed.
The benchmark Straits Times Index (STI) fell 0.1 per cent or 4.33 points to 3,580.96.
Across the broader market, decliners outnumbered advancers 210 to 206, with 1.4 billion shares worth $1.5 billion having been traded throughout the day.
Consumer goods conglomerate Jardine Matheson was the biggest gainer on the STI, rising 2.8 per cent to close at US$40.16.
Agribusiness group Wilmar saw the biggest drop on the index, sliding 3 per cent to close at $3.25.
Yangzijiang Shipbuilding was the most actively traded counter by volume, with 35.3 million shares worth $87.5 million traded. The counter rose 1.6 per cent to close at $2.49.
Malaysia’s Kuala Lumpur Composite Index was up 0.5 per cent as was Indonesia’s IDX Composite Index, which was up 1.5 per cent. Meanwhile, Australia’s ASX 200 fell 0.7 per cent.
Japan’s Nikkei also rose 1.9 per cent, the same day Japan’s Parliament elected Mr Shigeru Ishiba as the country’s prime minister.
Mr Yeap Jun Rong, market strategist at online trading platform IG, said that the outlook for Japanese equities has become uncertain in the light of Mr Ishiba’s appointment.
He said that Mr Ishiba will likely support the Bank of Japan’s hiking cycle while advocating for fiscal discipline.
This means that there will likely be tighter fiscal spending ahead for Japan, he added.
Mainland China, Hong Kong and the South Korean markets were all closed on Oct 1 due to a public holiday. THE BUSINESS TIMES
