STI closes flat as Russia-Ukraine situation impacts Asian markets

Singapore stocks ended the day unchanged yesterday, as regional markets traded mixed.

The benchmark Straits Times Index (STI) rose 0.01 per cent or 0.18 point to close at 3,421.38. Elsewhere, major indexes in Japan, Hong Kong and South Korea ended the day between 0.8 per cent and 1 per cent lower, amid caution over Russia-Ukraine tensions.

The STI was in negative territory earlier in the day, but climbed in the last hour as reports emerged that Russia was returning some troops to bases. Other markets that also closed higher yesterday included Malaysia, Indonesia and Shanghai.

IG market strategist Yeap Jun Rong noted that the latest Singapore Exchange fund flow data showed another week of significant net institutional inflows last week, with traction seen in the financial and telecommunications sectors.

"The continued inflows into the STI by institutional investors last week may suggest some positioning for the banks' results this week," he said, adding that near-term technical support for the STI stands at 3,400, while resistance is at the 3,470 level.

Wilmar International shares were the top STI performer for the second straight day, gaining 4.8 per cent to close at $4.76.

DBS finished at the bottom of the STI performance table, after the shares fell 1.8 per cent to close at $36.53. OCBC and UOB were also among the decliners, slipping 0.6 per cent and 0.1 per cent respectively.

Thai Beverage was the most actively traded counter by volume, after it reported on Monday a 7.4 per cent year-on-year increase in first-quarter revenue. The shares gained 3 per cent to close at 68 cents after 82.2 million shares worth $56 million changed hands.

Across the broader market, gainers outnumbered losers 247 to 201 after 1.2 billion securities worth $1.6 billion changed hands.