Singapore stocks track regional decline; STI down 0.2%
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The benchmark Straits Times Index lost 0.2 per cent or 8.55 points to finish at 4,739.07.
ST PHOTO: KUA CHEE SIONG
Young Zhan Heng
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- Singapore's STI fell 0.2% to 4,739.07, mirroring a weak regional trend with 271 gainers trailing 300 losers in the broader market.
- Regional indexes were mostly lower, with Japan's Nikkei 225 dropping 1.6% due to rising Sino-Japanese tensions over export restrictions.
- Hongkong Land led STI gainers (up 3.5%), while Singapore Exchange was the worst performer (down 2.2%); local banks showed mixed results.
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SINGAPORE - Singapore stocks ended lower on Jan 8, amid a weak regional showing. The benchmark Straits Times Index (STI) lost 0.2 per cent, or 8.55 points, to finish at 4,739.07. Meanwhile, the iEdge Singapore Next 50 Index gained 0.3 per cent, or 4.8 points, to 1,466.43.
Across the broader market, gainers trailed losers 271 to 300, after 1.4 billion securities worth $1.7 billion changed hands.
Key regional indexes were mostly lower. Hong Kong’s Hang Seng Index lost 1.2 per cent, South Korea’s Kospi remained almost flat and the FTSE Bursa Malaysia KLCI lost 0.4 per cent.
Japan’s Nikkei 225 lost 1.6 per cent, as geopolitical tensions between Japan and China rose.
“Beijing has imposed export restrictions on dual-use goods to Japan – including key semiconductor inputs and rare earth materials – and launched an anti-dumping investigation into dichlorosilane, a critical chipmaking chemical imported from Japan, following complaints from domestic producers,” noted Ms Ipek Ozkardeskaya, senior analyst at Swissquote.
Tokyo said the export curbs were unacceptable and warned of disruptions to the global supply chain, she added. She also noted that Japan’s tech-heavy Topix index has retreated from the all-time highs reached earlier this week.
Hongkong Land led the gainers on Singapore’s blue-chip index, rising 3.5 per cent, or 25 US cents, to US$7.49.
The worst performer among STI constituents was the Singapore Exchange (SGX), falling 2.2 per cent, or 39 cents, to close at $17.31.
The three local banks ended mixed. OCBC Bank rose 0.5 per cent, or 11 cents, to $20.17, DBS Bank finished 1.8 per cent, or $1.06, lower at $57.34 while UOB inched down 0.03 per cent, or one cent, to $36.01. THE BUSINESS TIMES
