STI dips 0.5% as it tracks overnight Wall Street declines
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The STI slid 24.9 points to 4,905.13, with index heavyweights DBS, UOB and OCBC Bank all finishing lower.
ST PHOTO: AZMI ATHNI
Tay Peck Gek
SINGAPORE – Singapore’s Straits Times Index (STI) dropped on Jan 30 after major US indexes S&P 500 and Nasdaq Composite Index slid overnight.
The STI slid 0.5 per cent or 24.9 points to 4,905.13, with index heavyweights DBS Bank, UOB and OCBC Bank all finishing lower.
DBS fell 1 per cent or 59 cents to $59.20, while UOB dropped 1 per cent or 38 cents to $38.27, and OCBC slipped 0.6 per cent or 12 cents to $21.23.
Yangzijiang Shipbuilding was the worst performer on the STI, with a decline of six cents or 1.8 per cent to $3.34, without any market-sensitive announcement by the China-based shipbuilder.
Meanwhile, the iEdge Singapore Next 50 Index was almost flat – inching up 0.02 per cent or 0.32 point to 1,501.57.
Mainboard-listed civil engineering group OKP traded ex-bonus, closing at 84 cents. This was after it announced in November a bonus issue of three shares for every four existing ordinary shares owned by an investor.
Across the broader market, decliners beat gainers 365 to 228, with 1.6 billion securities worth about $2.1 billion transacted.
Main indexes on Wall Street finished lower overnight, with the Nasdaq leading declines. Investor sentiment was bruised by the latest earnings reports, and there was concern about whether Big Tech’s artificial intelligence investments would pay off.
Private banking and asset management group LGT said stocks in the Asia-Pacific region were trading mostly lower on Jan 30, reflecting the weaker close on Wall Street and Europe as investors shifted to a more risk-off stance. THE BUSINESS TIMES
