Singapore stocks extend declines amid geopolitical uncertainty; STI down 0.4%
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The benchmark Straits Times Index lost 18.12 points to finish at 4,809.88.
ST PHOTO: AZMI ATHNI
Tan Nai Lun
- Singapore's STI fell 0.4% to 4,809.88 amid mixed regional performance and geopolitical tensions, as the iEdge Singapore Next 50 Index rose 0.3%.
- Global markets are rattled by US/Europe tensions over Greenland and a Japanese government bond sell-off; gold rose to US$4,888 per ounce.
- Thai Beverage gained 1.1% while Hongkong Land fell 3.1%; OCBC and UOB rose, but DBS fell slightly.
AI generated
SINGAPORE - Singapore stocks extended declines on Jan 21 amid a mixed regional performance, as global markets were rocked by continued geopolitical tensions over Greenland as well as weakness in Japanese government bonds.
The benchmark Straits Times Index (STI) lost 0.4 per cent or 18.12 points to finish at 4,809.88.
On a positive note, the iEdge Singapore Next 50 Index gained 0.3 per cent or 4.96 points to 1,484.99.
Across the broader market, gainers edged out losers 290 to 270, after 1.4 billion securities worth $1.6 billion changed hands.
Key regional indexes were mixed.
Hong Kong’s Hang Seng Index gained 0.4 per cent, South Korea’s Kospi was up 0.5 per cent and the FTSE Bursa Malaysia KLCI rose 0.4 per cent, but Japan’s Nikkei 225 index lost 0.4 per cent.
Global markets are being rattled by an “exotic blend” of rising geopolitical tensions between the US and Europe – over US President Donald Trump’s desire to buy Greenland – and a major sell-off in Japanese government bonds, said Ms Ipek Ozkardeskaya, a senior analyst at Swissquote.
“The Greenland chaos will remain the main course of the week and will be served again today, as Donald Trump prepares to rock the boat in Davos,” she said.
Ms Ozkardeskaya said the rally in gold to US$4,888 an ounce is a good indicator of how uncertain and tense markets have become.
“The only certainty is uncertainty,” she added.
On the STI, Thai Beverage led the gainers, rising 1.1 per cent or 0.5 cent to end at 47 cents.
The worst performer among STI constituents was Hongkong Land, falling 3.1 per cent or 26 US cents to close at US$8.15.
The three local banks ended mixed on Jan 21. OCBC Bank rose 0.4 per cent to $20.44 and UOB was up 0.1 per cent at $36.77, but DBS Bank finished 0.2 per cent lower at $58.02. THE BUSINESS TIMES
