Singapore shares fall, tracking retreat in regional markets; STI down 0.6%
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Across the broader market in Singapore, decliners outnumber advancers 446 to 186, with 1.5 billion securities traded and total turnover at $1.6 billion.
PHOTO: ST FILE
Renald Yeo
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- Singapore's Straits Times Index (STI) declined by 0.6% to 4,328.93, mirroring losses in regional markets, with more stocks declining than rising.
- Singapore's non-oil domestic exports surprisingly rose 6.9% in September, reversing August's decline, though economists warn of potential softening later in the year.
- Across Asia, key indexes like Hong Kong's Hang Seng and Shanghai's Composite Index also fell, reflecting a widespread downturn in the region.
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SINGAPORE – Shares on the Singapore bourse closed lower on Oct 17, tracking declines across major regional markets.
The benchmark Straits Times Index (STI) fell 0.6 per cent, or 27.27 points, to 4,328.93. Across the broader market, decliners outnumbered advancers 446 to 186, with 1.5 billion securities traded and total turnover at $1.6 billion.
CapitaLand Integrated Commercial Trust was the top gainer on the STI, rising 0.8 per cent or two cents to $2.38.
Genting Singapore was the most actively traded counter by volume, with 50.6 million shares worth $36.7 million changing hands. The stock closed unchanged at 72.5 cents.
UOL Group was the day’s biggest decliner, slipping 2.5 per cent or 20 cents to $7.87.
All three local banks ended lower. DBS Bank dipped 1 per cent or 51 cents to $52, OCBC Bank fell 0.5 per cent or eight cents to $16.73, and UOB lost 0.8 per cent or 28 cents to reach $34.30.
Singapore’s latest trade data released on Oct 17 showed that non-oil domestic exports rose 6.9 per cent year on year in September, reversing from an upwardly revised 11.5 per cent drop in August.
The rebound defied expectations. Private sector economists polled by Bloomberg had projected a 2.1 per cent decline. Even so, economists cautioned that export momentum could soften in the remaining months of the year.
Elsewhere in Asia, key indexes also ended lower.
Hong Kong’s Hang Seng Index fell 2.5 per cent or 641.41 points to 25,247.1, and Shanghai’s Composite Index dropped 2 per cent or 76.47 points to 3,839.76.
Japan’s Nikkei 225 lost 1.4 per cent or 695.59 points to 47,582.15, and Malaysia’s FTSE Bursa Malaysia KLCI declined 0.3 per cent or 5.11 points to 1,607.18. THE BUSINESS TIMES
