Bulls And Bears

Singapore shares head south for third consecutive day

• STI down 0.2% amid fears over Covid-19 community cases • Top gainer was Dairy Farm International, up 1.9% • Losers outpace gainers 221 to 214; 1.2b securities traded

Singapore shares drifted lower yesterday as fears over locally transmitted Covid-19 cases persisted. The benchmark Straits Times Index (STI) fell 0.2 per cent to end at 3,179.13, marking the third consecutive day of decline.

The top gainer on the index was Dairy Farm International, which saw its shares rise 1.9 per cent to close at US$4.39. Other top gainers included Thai Beverage and Mapletree Logistics Trust, which rose 1.4 per cent and 1 per cent, respectively.

Finishing at the bottom of the STI performance table was CapitaLand, which fell 2.5 per cent to $3.58 as it went ex-dividend.

Across the broader market, decliners outnumbered advancers 221 to 214 after 1.23 billion securities worth $1.18 billion changed hands.

AEM Holdings was one of the most actively traded stocks by value, with 18.3 million shares worth $69.3 million changing hands. The counter fell 6.4 per cent to $3.79 after it reported on Monday a 63.1 per cent decline in its first-quarter net profit.

Market watchers noted that regionally, sentiment was subdued as Covid-19 cases continued to impact India and some South-east Asian countries.

Maybank Kim Eng analyst Kareen Chan said in a note that it is worth revisiting healthcare stocks such as Riverstone, Medtecs International and Top Glove to hedge risks with rising Covid-19 cases and more virulent strains increasingly grabbing the headlines.

Elsewhere in Asia, markets were mixed as financial markets in China and Japan stayed closed for a public holiday. Hong Kong's Hang Seng Index rose 0.7 per cent while South Korea's Kospi and the ASX 200 in Australia both climbed 0.6 per cent. Malaysia's KLCI fell 0.2 per cent while Taiwan's Taiex fell 1.7 per cent.

A version of this article appeared in the print edition of The Straits Times on May 05, 2021, with the headline 'Singapore shares head south for third consecutive day'. Subscribe