Singapore stocks fall amid weak regional sentiment
Sign up now: Get ST's newsletters delivered to your inbox
In the broader market, losers beat gainers 326 to 231 after 1.6 billion securities worth $1.1 billion changed hands.
PHOTO: ST FILE
Yong Jun Yuan
Follow topic:
SINGAPORE - The Straits Times Index (STI) fell 0.8 per cent, or 27.99 points, to 3,296.56 on Tuesday amid generally weak regional sentiment.
In the broader market, losers beat gainers 326 to 231, with 1.6 billion securities worth $1.1 billion changing hands.
Markets in the region were mostly in the red, with Hong Kong’s Hang Seng Index declining 1.7 per cent and South Korea’s Kospi falling 1.4 per cent.
However, Japan’s Nikkei 225 index edged up 0.1 per cent, touching the highest level in eight months, led by electronics makers on earnings optimism and expanded government subsidies for chip production.
SPI Asset Management managing partner Stephen Innes noted that it has been challenging to “ascertain a clean read” on anything happening this week.
“One of the most challenging things about navigating this bear market and the widely anticipated coming recession is that we’ve had to differentiate between real and nominal economic and market variables like (never before) in recent decades,” he said.
The biggest gainer on the STI was CapitaLand Investment, which rose 0.5 per cent or two cents to $3.86.
Meanwhile, Singtel was at the bottom of the table, shedding 3.2 per cent or eight cents to $2.46.
The trio of local banks ended the day mixed. DBS Bank gained 0.1 per cent or four cents to finish at $32.91, while UOB shed 0.6 per cent or 18 cents to $29.40, and OCBC Bank fell 1.6 per cent or 20 cents to close at $12.62. THE BUSINESS TIMES
With additional information from Reuters
