Singapore shares end lower ahead of Trump inauguration; STI down 0.1%
Sign up now: Get ST's newsletters delivered to your inbox
The benchmark Straits Times Index lost 0.1 per cent, or 2.81 points, to finish at 3,807.97.
PHOTO: ST FILE
Tan Nai Lun & Therese Soh
Follow topic:
SINGAPORE - Shares in Singapore closed slightly lower on Jan 20 ahead of Donald Trump’s presidential inauguration in the US, even as most markets in the region ended higher.
The benchmark Straits Times Index (STI) lost 0.1 per cent, or 2.81 points, to finish at 3,807.97.
Across the broader market, gainers outnumbered losers 303 to 192, after one billion securities worth $908.2 million changed hands.
Meanwhile, Bitcoin rose as much as 5.5 per cent on Jan 20 to hit an all-time high of US$109,241, ahead of pro-crypto Trump’s return to the US presidency. This was also after Trump and his wife Melania launched their own set of meme coins over the weekend.
Elsewhere in the region, most key indexes ended higher. Hong Kong’s Hang Seng Index rose 1.8 per cent, Japan’s Nikkei 225 gained 1.2 per cent, and the FTSE Bursa Malaysia KLCI advanced 0.4 per cent. But South Korea’s Kospi Composite Index fell 0.1 per cent.
“Lower bond yields, a softer US dollar and some potential thawing of US-China relations brought some reprieve for Asian stocks in the past week,” said Nomura Asia-Pacific equity strategist Chetan Seth in a note.
“But Trump’s inauguration and, with that, the threat of imminent tariffs, will provide investors a reason to stay cautious and brace themselves for some volatility ahead,” he added.
On the STI, Hongkong Land was the biggest gainer, rising 2.6 per cent, or 11 US cents, to US$4.29.
Seatrium fell the most, down 1.8 per cent, or four cents, at $2.23.
The local banking trio ended mixed on Jan 20. DBS Bank fell 0.5 per cent, or 23 cents, to $43.62. OCBC Bank rose 0.2 per cent, or four cents, to $17.16; and UOB was up 0.3 per cent, or 12 cents, at $37.15. THE BUSINESS TIMES
