STI dips 0.4% as investors fret over war and inflation concerns
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Across the broader market, gainers beat losers 313 to 281, after 1.9 billion securities worth $2.3 billion changed hands.
ST PHOTO: AZMI ATHNI
Tay Peck Gek
- Singapore's Straits Times Index fell 0.4% on April 24, closing at 4,922.86, due to geopolitical tensions and inflation weighing on market sentiment.
- Yangzijiang Shipbuilding led STI gainers, while UOB was the worst performer.
- Electronics demand is a bright spot, driven by AI capital expenditure, despite geopolitical events. Regional markets showed mixed performance.
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SINGAPORE - Stocks in Singapore ended lower on April 24 as geopolitics and inflation weigh on market sentiment.
The benchmark Straits Times Index (STI) lost 0.4 per cent, or 21.25 points, to finish at 4,922.86.
Yangzijiang Shipbuilding led the gainers on Singapore’s blue-chip index, rising 3.8 per cent, or 16 cents, to end at $4.33.
The worst performer among STI constituents was UOB, falling 2.4 per cent, or 90 cents ex-dividend, to close at $36. The bank declared a dividend of 71 cents per share for the half year to December. Its peers also closed down. DBS Bank lost 0.2 per cent, or 10 cents, to $56.90, and OCBC dropped 0.4 per cent, or nine cents, to $21.71.
Within the iEdge Singapore Next 50 Index, precision engineering group UMS Integration was the top gainer as it is riding the artificial intelligence wave, rising 8.1 per cent, or 16 cents, to $2.14.
Meanwhile, pawnshop operator ValueMax was the top loser, falling 7.1 per cent, or eight cents, to end the session at $1.04.
Across the broader market, gainers beat losers 313 to 281, after 1.9 billion securities worth $2.3 billion changed hands.
Over the week, STI was 1.6 per cent lower.
Key regional indexes were mixed. Hong Kong’s Hang Seng Index gained 0.2 per cent, Japan’s Nikkei 225 index rose 1 per cent, South Korea’s Kospi was unchanged and the FTSE Bursa Malaysia KLCI declined 0.1 per cent.
Private banking and asset management group LGT said Asia-Pacific equities traded without clear direction as investors remained wary despite Israel and Lebanon agreeing at White House to continue their ceasefire. THE BUSINESS TIMES
