Singapore stocks lose grip of early gains; STI slips 0.1% to 3,213.57 points
SINGAPORE stocks failed to hold on to early gains on Monday, with the Straits Times Index slipping 0.1 per cent, or 3.35 points, to close the day at 3,213.57.
The decline in the blue chip-dominated index, however, did not fully reflect a slightly better day for most stocks. Gainers just edged out losers 225 to 214. A total of 2.0 billion shares worth S$1.23 billion changed hands, representing an average turnover of 55.4 Singapore cents per trade.
Singapore Airlines remained a notable drag on the index, coming on the back of a disappointing loss for the quarter ended March. Its shares slipped 1.9 per cent, or 19 Singapore cents, to close at S$9.79 on Monday.
Oil prices rallied on expectations that the Organization of the Petroleum Exporting Countries (Opec) will extend supply cuts at a meeting on Thursday.
Rigbuilders Keppel Corp and Sembcorp Marine rallied, with Keppel adding 1.4 per cent, or nine Singapore cents, to head out at S$6.56 while Sembcorp Marine gained 1.8 per cent, or three Singapore cents, to close at S$1.74.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%