Singapore stocks end slightly lower before festive break; STI down 0.06%
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Across the broader market, advancers outnumber decliners 235 to 167, after 477.8 million securities worth $496.3 million changed hands.
PHOTO: ST FILE
Navene Elangovan
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- Singapore's STI edged down 0.06% to 4,636.34 on Christmas Eve, with Frasers Logistics gaining and ST Engineering declining.
- Asian markets were mostly up following strong US growth (4.3% in Q3) that fuelled Wall Street's record, Mizuho Securities reported.
- UOB rose among local banks, while OCBC and DBS fell; Genting Singapore was the most actively traded counter on the STI.
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SINGAPORE – Singapore shares ended slightly lower on Dec 24 before investors took a break for Christmas, even as Wall Street closed higher on the back of a strong growth forecast for the US.
The benchmark Straits Times Index (STI) slipped 0.06 per cent, or 2.63 points, to close at 4,636.34 on the shorter trading day of Christmas Eve. Meanwhile, the iEdge Singapore Next 50 Index rose 0.1 per cent, or 1.61 points, to 1,448.61.
Frasers Logistics and Commercial Trust was the top blue-chip gainer, rising 1 per cent, or one cent, to 99.5 cents.
ST Engineering was the largest decliner on the STI, falling 1.3 per cent, or 11 cents, to $8.35.
Casino operator Genting Singapore was the most actively traded counter on the STI by volume, with 20.8 million units worth $15.1 million changing hands. The counter closed flat at 72.5 cents.
Across the trio of local banks, only UOB finished higher on Dec 24. The counter rose 0.1 per cent, or four cents, to $35.03. OCBC Bank fell 0.6 per cent or 12 cents to $19.78, and DBS Bank slipped 0.1 per cent or four cents to $56.30.
Across the broader market, advancers outnumbered decliners 235 to 167, after 477.8 million securities worth $496.3 million changed hands.
In the US, the S&P 500 notched a new record, while the Nasdaq and blue-chip Dow Jones Industrial Average extended their gains overnight.
Mr Vishnu Varathan, head of macro research for Asia excluding Japan at Mizuho Securities, said that markets were “risk on” despite the fractionally softer US dollar. The US recorded economic growth of 4.3 per cent in the third quarter, beating analyst expectations of 3.3 per cent growth – this hit the “sweet spot” for investors’ risk appetite.
The forward-looking promise of further interest rate cuts by the US Federal Reserve also fuelled the rally, he added. THE BUSINESS TIMES
