Singapore stocks fall 0.6% as Middle East conflict enters third month
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Across the broader market, gainers outpace losers 324 to 292, as 2.2 billion securities worth $2.4 billion change hands.
ST PHOTO: AZMI ATHNI
Renald Yeo
- Singapore's Straits Times Index fell 0.6% on April 29, influenced by the ongoing Middle East conflict. All three local banks declined.
- Mapletree Industrial Trust plans to divest $500M-$600M in North American assets over two years; its DPU fell 8% for Q4.
- Singapore's broader market saw more gainers than losers, while regional markets showed mixed performance.
AI generated
SINGAPORE - Singapore stocks ended lower on April 29, as the ongoing conflict in the Middle East – which began on Feb 28 – entered its third month.
The benchmark Straits Times Index (STI) fell 0.6 per cent, or 26.72 points, to 4,860.97.
Singapore’s three local banks all finished lower. DBS Bank declined 0.3 per cent, or 19 cents, to $56.56; OCBC Bank slipped 0.1 per cent, or two cents, to $21.66; while UOB fell 0.5 per cent, or 18 cents, to $35.78.
Across the broader market, gainers outpaced losers 324 to 292, after 2.2 billion securities worth $2.4 billion changed hands.
Among the STI constituents, UOL Group was the top performer with a rise of 1.4 per cent, or 15 cents, to $10.77. The biggest decliner was Mapletree Industrial Trust, which dropped 4.4 per cent, or nine cents, to end at $1.97.
At an earnings briefing on April 29, the trust’s manager said it planned to divest $500 million to $600 million of assets in North America within the next two years, as part of efforts to recycle capital and expand into new markets.
This came after the manager reported an 8 per cent fall in distribution per unit for the fourth quarter ended March 31 to 3.09 cents.
Meanwhile, the iEdge Singapore Next 50 Index rose 0.1 per cent, or 1.72 points, to 1,533.44.
Within the index, First Resources was the top gainer, climbing 4.4 per cent to $3.31. Meanwhile, Hong Leong Asia was the biggest loser, declining 3.9 per cent to $2.94.
Regional markets were mixed. Hong Kong’s Hang Seng Index rose 1.7 per cent and South Korea’s Kospi gained 0.8 per cent, while the FTSE Bursa Malaysia KLCI shed 0.5 per cent. THE BUSINESS TIMES
