Singapore stocks end week flattish as investors await Budget, earnings
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Losers outnumbered gainers 329 to 222, after 1.2 billion securities worth $883.7 million changed hands.
PHOTO: BT FILE
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Uma Devi
SINGAPORE – Local shares ended the week largely unchanged, as investors took stock of inflation levels, the upcoming Budget and the possibility of more rate hikes in the United States.
The lacklustre session left the Straits Times Index (STI) with a marginal gain of 0.04 per cent, or 1.21 points, to 3,360.69. Losers outnumbered gainers 329 to 222, after 1.2 billion securities worth $883.7 million changed hands.
Markets across the region ended the trading session mixed after moderate falls across the board on Wall Street overnight.
Japan’s Nikkei 225 added 0.3 per cent and the Bursa in Malaysia rose 0.7 per cent. But the Hang Seng Index in Hong Kong lost 2 per cent, the Kospi in Seoul shed 0.5 per cent and the ASX 200 Down Under fell 0.8 per cent to end at a three-week low after hawkish Reserve Bank remarks on more interest rate rises.
China’s inflation figures are likely to be in focus next week, noted IG market strategist Yeap Jun Rong.
“Reopening efforts towards the end of last year may help to revive its January consumer prices,” added Mr Yeap, who expects a further uptick to 2.1 per cent versus the previous increase of 1.8 per cent.
Jardine Matheson Holdings was the top gainer for the day, rising 0.7 per cent to US$52.20.
The trio of lenders were also among the biggest advancers: UOB added 0.5 per cent to $30.55; DBS Group Holdings rose 0.3 per cent to $36.03; and OCBC Bank gained 0.4 per cent to $13.15.
Electric vehicle player Nio was the biggest loser. The counter slipped 3.8 per cent to US$10.47. Jardine Cycle and Carriage was another top decliner, falling 1.1 per cent to $28.89.
Sembcorp Marine was the most actively traded counter with about 61.5 million shares changing hands. The stock closed at 13.5 cents, down 0.7 per cent.
Other actively traded counters were Halcyon Agri, The Place Holdings and Golden Agri-Resources. THE BUSINESS TIMES
