Singapore stocks end lower amid regional decline; STI down 0.3%

SINGAPORE - Local stocks closed lower on Nov 27, tracking declines in the region.

The benchmark Straits Times Index (STI) fell 0.3 per cent, or 8.39 points, to end at 3,086.42. Losers outnumbered gainers 308 to 253, with 778.7 million securities worth $663.7 million having changed hands.

Elsewhere in the region, key indexes were largely down. The Nikkei 225 lost 0.5 per cent, the Kospi Composite Index slid 0.04 per cent, the Hang Seng Index fell 0.2 per cent and the FTSE Bursa Malaysia KLCI declined 0.4 per cent.

IG market analyst Yeap Jun Rong noted that greater cues for the risk environment may be presented this week, as United States markets reopen from holidays.

Meanwhile, Singapore’s industrial production data on Nov 24 surprised significantly on the upside, which helped to push back further on recession risks.

“Any follow-through from recent expansion will be (watched) over the coming months to mark an improving trend in global demand,” Mr Yeap said.

The biggest loser on the STI was Thai Beverage, which fell 3.8 per cent to end at 51 cents.

Singtel was the biggest gainer, rising 1.3 per cent to close at $2.29.

The trio of local banks ended lower on Nov 27. DBS Bank fell 0.3 per cent to $31.74, OCBC Bank ended 0.2 per cent lower at $12.65, while UOB lost 0.3 per cent to $27.21.

The banks announced earlier in the day that

they would allow customers to lock their savings soon

, in a bid to limit funds that may be lost to scammers, including from malware and phishing. The funds locked cannot be used or moved digitally and will require physical verifications to be unlocked.

THE BUSINESS TIMES