Singapore shares fall 0.8% even as Q3 GDP growth beats forecast
Sign up now: Get ST's newsletters delivered to your inbox
The benchmark Straits Times Index slipped 0.8 per cent, or 35.32 points, to 4,354.52.
ST PHOTO: BRIAN TEO
Renald Yeo
Follow topic:
- Singapore's Straits Times Index (STI) fell 0.8% to 4,354.52, with more stocks declining than advancing amid $2 billion turnover.
- Genting Singapore rose 1.4% but Seatrium declined 4.5% following a US$475 million contract termination, impacting its share price.
- Singapore's Q3 GDP grew 2.9%, exceeding forecasts, while the Monetary Authority of Singapore kept monetary policy unchanged and key Asian indices also declined.
AI generated
SINGAPORE – Shares on the Singapore bourse closed lower on Oct 14, even as the city state’s economy grew faster than expected.
The benchmark Straits Times Index (STI) slipped 0.8 per cent, or 35.32 points, to 4,354.52 points. Decliners outnumbered advancers 430 to 221 in the broader market, with 1.9 billion shares traded and total turnover at $2 billion.
Resorts operator Genting Singapore was the STI’s top gainer, rising 1.4 per cent, or one cent, to 72.5 cents.
The previous day, its Malaysia-listed parent Genting Bhd unveiled a RM6.7 billion (S$2.1 billion) proposal to buy out the minority shareholders of Genting Malaysia.
Genting Singapore was also the most actively traded STI counter by volume, with 78.5 million shares worth $56.8 million changing hands.
The biggest decliner was Seatrium, which fell 4.5 per cent, or 10 cents, to $2.12. The offshore and marine giant’s share price has dropped 14.2 per cent over the past five days following news on Oct 10 of a US$475 million (S$617 million) contract termination.
The local banks were mixed. OCBC rose 0.1 per cent, or one cent, to $16.78, while DBS slipped 1.4 per cent, or 75 cents, to $52.65, and UOB lost 0.4 per cent, or 14 cents, to $34.79.
Separately, Singapore’s gross domestic product for the third quarter grew 2.9 per cent year on year
On the same day, the Monetary Authority of Singapore left its monetary policy settings unchanged for a second straight meeting, after earlier easing in January and April in 2025.
Elsewhere in Asia, key indexes also ended lower. Hong Kong’s Hang Seng Index fell 1.7 per cent, or 448.13 points, to 25,441.35 points, while the Shanghai Composite Index slipped 0.6 per cent, or 24.27 points, to 3,865.23 points. Japan’s Nikkei 225 lost 2.6 per cent, or 1,241.48 points, to 46,847.32 points, and the FTSE Bursa Malaysia KLCI dipped 0.2 per cent, or 3.73 points, to 1,611.46 points. THE BUSINESS TIMES
