Singapore stocks end lower amid mixed regional trading; STI down 0.5%
Sign up now: Get ST's newsletters delivered to your inbox
The benchmark Straits Times Index (STI) lost 0.5 per cent or 24.28 points to finish at 4,507.08.
PHOTO: ST FILE
Tan Nai Lun
Follow topic:
- On Dec 8, Singapore's Straits Times Index (STI) declined 0.5% to 4,507.08, with more losers than gainers across the broader market.
- Regional markets showed mixed performance; Hong Kong and Malaysia fell, while Japan and South Korea rose.
- Swissquote analyst Ipek Ozkardeskaya noted a likely Fed rate cut but cautioned against politically driven cuts without economic support.
AI generated
SINGAPORE - Singapore stocks ended lower on Dec 8 amid mixed trading in the region.
The benchmark Straits Times Index (STI) lost 0.5 per cent or 24.28 points to finish at 4,507.08. Meanwhile, the iEdge Singapore Next 50 Index gained 0.3 per cent or 3.91 points to 1,444.66.
Across the broader market, gainers trailed losers 222 to 290, after 1.1 billion securities worth $1.1 billion changed hands.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index lost 1.2 per cent and the FTSE Bursa Malaysia KLCI dipped 0.2 per cent, while Japan’s Nikkei 225 index gained 0.2 per cent and South Korea’s Kospi rose 1.3 per cent.
“The good news for them is that a 25-basis-point Fed cut on Wednesday is essentially locked in... but what happens next is the part no one agrees on,” said Ms Ipek Ozkardeskaya, senior analyst at Swissquote.
The base case is that politics will dominate and that rates will continue to move lower, she said.
“But here is the risk: If the Fed delivers politically driven cuts without economic justification, markets could push back and long-term yields could rise,” she added.
On the STI, Venture was the top gainer, rising 1.1 per cent or 17 cents to end at $15.07.
The worst performer was DFI Retail Group, falling 2.2 per cent or nine US cents to close at US$4.01.
The local banks ended lower. DBS lost 0.4 per cent to finish at $53.97, OCBC fell 1 per cent to finish at $18.73, and UOB was down 0.2 per cent to finish at $34.44.
