Singapore shares end flat despite favourable domestic exports data

Singapore shares barely budged amid a mix of favourable domestic exports data and slower China quarterly growth reported yesterday.

The blue-chip gauge Straits Times Index (STI) inched lower by 0.09 point to 3,173.82 points.

The sluggish showing came though Singapore posted higher non-oil domestic exports for last month, buoyed by electronics shipments and non-electronics.

In contrast, China's growth in the quarter to last month slowed and was below consensus forecasts, reflecting the impact from a power crunch, property tightening and Delta-variant outbreaks, said HSBC Global Research.

Gainers beat losers 233 to 225 on the broader market, with a turnover of 2.03 billion securities worth $1.12 billion.

Nanofilm Technologies rose 2.2 per cent to $3.78. The firm's deputy chief executive officer was appointed to helm the mainboard-listed firm as CEO effective from next January.

DBS Bank lowered its price target for the firm to $4.05 with a "hold" recommendation as strong demand has been marred by persistent supply chain issues.

Raffles Education Corporation declined by 25.6 per cent to 6.1 cents, although its board had said it was of the view that the group and company can continue as a going concern, and that it saw no need to suspend the trading of its shares as its operations are generating positive cash flows.

Dimethylformamide producer Jiutian Chemical was the most traded counter with 255.7 million shares changing hands to close 13.8 per cent higher at 9.1 cents.

Asia's key indexes had a mixed showing. The Shanghai Composite Index lost 0.12 per cent, Japan's Nikkei 225 dropped 0.15 per cent, and South Korea's Kospi closed lower by 0.28 per cent.

Hong Kong's Hang Seng index climbed 0.31 per cent while Australia's S&P/ASX 200 rose 0.26 per cent.

The FTSE Bursa Malaysia Kuala Lumpur Composite Index was up 0.48 per cent.