STI down by 0.26% in spite of crude price increase

The Straits Times Index closed down for the second straight day, by 8.67 points, or 0.26 per cent, to 3,280.28 points.
The Straits Times Index closed down for the second straight day, by 8.67 points, or 0.26 per cent, to 3,280.28 points.PHOTO: REUTERS

SINGAPORE - Activity on the global front got the market stirring slightly more on Wednesday (Oct 11) , but it might have been the case that no news is good news.

Instead, the Straits Times Index closed down for the second straight day, by 8.67 points, or 0.26 per cent, to 3,280.28 points.

Fresh highs on United States equity indices and an upturn in crude prices have failed to assuage geopolitical uncertainty, especially on the Korean peninsula.

All three local banks were down at the market's close.

DBS fell by 15 cents, or 0.7 per cent, to S$21.35; UOB by 15 cents, or 0.6 per cent, to S$24.07; and OCBC by two cents, or 0.2 per cent, to S$11.34.

Singapore Airlines dropped by another cent, or 0.1 per cent, to S$10.18.

Still, the oil price gain was good news for KrisEnergy, which added 0.3 cent, or 2.6 per cent, to end at 11.8 cents on a turnover of some 42.6 million shares.

Sembcorp Marine put on one cent, or 0.5 per cent, to S$1.84.