Singapore stocks end first trading day of Q4 in red, STI down 0.3%
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Across the broader market, decliners outnumbered advancers 200 to 184, with 950.5 million securities worth $782.9 million changing hands.
PHOTO: ST FILE
Megan Cheah
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SINGAPORE - Shares in Singapore slipped on Monday, ending the first trading day of the fourth quarter in the red.
The Straits Times Index (STI) retreated 0.3 per cent or 8.55 points to 3,208.86. Across the broader market, decliners outnumbered advancers 200 to 184, with 950.5 million securities worth $782.9 million changing hands.
On the STI, the top gainer was Sembcorp Industries, which rose 1.6 per cent or eight cents to $5.17. Its subsidiary Sembcorp Power on Monday inked power purchase agreements with ST Telemedia Global Data Centres to power its Singapore data centres.
Singtel climbed 0.8 per cent or two cents to $2.44 on Monday. Its United States subsidiary has agreed to sell its stake in its Chicago-based cyber-security arm, Trustwave,
The biggest decliner was Mapletree Logistics Trust, which fell 3 per cent or five cents to $1.63.
Local banking stocks all closed lower. DBS Bank shed 0.2 per cent or five cents to $33.59, UOB slipped 0.6 per cent or 16 cents to $28.34, while OCBC Bank dipped 0.1 per cent or one cent to $12.80.
Regional indexes saw red ink on Monday. The FTSE Bursa Malaysia KLCI was down 0.4 per cent, Japan’s Nikkei 225 closed 0.3 per cent lower, while Australia’s S&P/ASX 200 lost 0.2 per cent.
Hong Kong and South Korea’s stock exchanges were closed for holidays. China’s markets are closed for the week due to the Golden Week holiday.
Saxo market strategist Charu Chanana said China’s purchasing managers’ indexes (PMIs) were in expansion territory for September, signalling “preliminary signs of a bottoming out in the economy”.
“Manufacturing PMI came in at 50.2 versus 49.7 in August, while non-manufacturing was at 51.7 versus 51 in August,” she said.
“However, expansion in Caixin PMIs moderated with manufacturing at 50.6 from 51 in August and services at 50.2 from 51.8, suggesting that private businesses and exporters still remain under heavy pressure.” THE BUSINESS TIMES
