SINGAPORE - Singapore shares closed largely flattish on March 19 in spite of overnight gains on Wall Street, as investors look to the outcome of the US Federal Reserve’s policy meeting on March 20.
The Straits Times Index inched up 0.05 per cent or 1.62 points to 3,173.55 points.
Seatrium was the top traded stock with 880.1 million shares transacted as the offshore and marine player slid a further 2.5 per cent to 7.9 cents, breaching its 52-week low.
Manulife US real estate investment trust units closed 1.8 per cent lower at 5.6 US cents, after its manager said that its chief executive officer, deputy CEO, chief financial officer and chief investment officer will all be replaced on June 30.
Singapore Post closed 6.6 per cent higher at 40.5 cents, after it announced the completion of a strategic review that aims to unlock value.
It is looking at divesting its non-core assets, including its flagship retail-commercial mixed development SingPost Centre, as well as considering floating its Australian business, as part of the initiatives that stemmed from the review.
Across the broader market, decliners surpassed gainers 275 to 227 as 1.7 billion securities valued at $966.5 million were transacted.
Gauges in Asia were a mixed bag, with Japanese stocks rallying despite the Bank of Japan hiking its policy rate by 0.1 per cent as normalisation had been priced in.
China and other bourses were mainly down. THE BUSINESS TIMES
