Bulls And Bears
STI ends flat ahead of retail sales data in US
• Thai Beverage best performer; Singtel at bottom of table • Reopening plays from transport and hospitality heavily traded • Key regional indexes rise except for S. Korea's Kospi
Sign up now: Get ST's newsletters delivered to your inbox
Claudia Tan
Singapore shares ended nearly flat yesterday following overnight dips on Wall Street as United States investors trod cautiously ahead of the release of retail sales data.
The Straits Times Index (STI) closed at 3,238.80 points, down 0.05 per cent, or 1.78 points.
Retail sales figures from the US will be a gauge of whether consumers are willing to spend even as sentiment has weakened, said UOB in a note. "The report should show that the effects of Covid-19 are fading, as parts of the economy are rebounding."
IG market strategist Yeap Jun Rong said: "Overall, strength in economic conditions, along with rising price pressures, supports the case of an earlier interest rate lift-off, and markets will be looking towards the upcoming US retail sales data for confirmation."
Across the Singapore market, gainers outpaced losers 261 to 200 after 1.58 billion securities worth $1.17 billion changed hands.
Thai Beverage was the best performer on the blue-chip index, gaining 1.4 per cent, or one cent, to 73.5 cents. At the bottom of the table was Singtel, which fell 1.6 per cent, or four cents, to $2.54.
Reopening plays from the hospitality and transport sectors saw heavy trading. Genting Singapore was the most heavily traded on the STI, with some 38.9 million shares changing hands. It gained 1.2 per cent, or one cent, to 83.5 cents.
ComfortDelGro was the second-most active, with about 27.2 million shares changing hands. Shares of the transport operator gained 0.7 per cent, or one cent, to $1.51.
DBS Group Research said in a report that the economy reopening, jobs support and "the worst is over" mentality could provide support to ComfortDelGro's share price.
With the exception of South Korea's Kospi, which fell 0.08 per cent, key benchmark indexes in the region ended the day higher.
Japan's Nikkei 225 was up 0.11 per cent; Hong Kong's Hang Seng Index gained 1.27 per cent; the Kuala Lumpur Composite Index edged up 0.04 per cent and the Jakarta Composite Index rose 0.53 per cent.
