Bulls And Bears

S'pore shares close lower for third straight day

• Uncertainty over timing of US stimulus among factors • 25 out of 30 STI component stocks end in the red • Losses track broader decline across Asia

Singapore stocks fell yesterday for a third consecutive day, with the benchmark Straits Times Index (STI) declining 28.13 points, or 0.95 per cent, to 2,945.52.

The losses tracked a broader decline across Asia.

Mr Stephen Innes, chief global market strategist at Axi, said the uncertainty of timing of fiscal stimulus in the United States and prospects of further Covid-19 lockdowns in Europe were among factors adding to market concerns.

Of the 30 STI counters, 25 registered declines, with four managing gains. One counter, Yangzijiang Shipbuilding, finished unchanged.

At the bottom of the table was CapitaLand Integrated Commercial Trust, which fell 4 per cent to $2.16. Last Thursday, the real estate investment trust posted a distribution per unit of 2.63 cents for its fourth quarter ended Dec 31, down from 3.11 cents a year ago.

The top gainer on the index was Keppel DC Reit, which climbed 1.4 per cent to $2.89. Other gainers included Thai Beverage, Jardine Matheson Holdings and Jardine Strategic Holdings.

Decliners outnumbered risers on the broader market at 339 to 163, with 3.75 billion securities worth $1.6 billion changing hands.

Biolidics rose 4.8 per cent to 33 cents. The medtech firm had on Monday launched a Covid-19 antigen test kit that can be sold in the European Union.

Elsewhere in Asia, Japan's Nikkei 225 index fell 1 per cent and the Shanghai Composite Index lost 1.5 per cent. Also in the red was South Korea's Kospi, which declined 2.1 per cent.

Hong Kong's Hang Seng sank 2.55 per cent as investors fretted over the timing of new US stimulus measures and China's decision to soak up excess liquidity in the country's financial markets.

A version of this article appeared in the print edition of The Straits Times on January 27, 2021, with the headline 'S'pore shares close lower for third straight day'. Subscribe