Singapore stocks end lower with Asia markets mixed; STI down 0.3%

SINGAPORE shares fell on Tuesday (Jun 4) amid mixed regional performance.

The Straits Times Index (STI) retreated 0.3 per cent or 9.93 points to 3,338.94. Across the broader market, losers outnumbered gainers 281 to 272, with 1.2 billion securities worth S$1.2 billion changing hands.

Most indices in Asia closed lower. South Korea’s Kospi Composite Index lost 0.8 per cent, while Japan’s Nikkei 225 slipped 0.2 per cent. However, Hong Kong’s Hang Seng Index gained 0.2 per cent, and the Bursa Malaysia Kuala Lumpur Composite Index climbed 1.2 per cent.

Back home, Singapore’s benchmark index was led higher by airport services provider Sats , which rose 2.1 per cent or S$0.06 to S$2.90.

The group recently posted a second-half profit of S$64.1 million on aviation’s recovery and strong cargo volumes at its subsidiary World Flight Services. It is aiming for S$8 billion in revenue by 2028, said chief executive Kerry Mok.

DBS Group Research analyst Jason Sum on Tuesday said the group’s ground handling and inflight catering business will further benefit from the global rebound in travel, while its non-travel-related food business should also register healthier growth on an expanding product portfolio and increased production capacity.

SEE ALSO

Indian stocks lose US$386 billion as polls tighter than forecast

Meanwhile, ST Engineering came in at the bottom of the index, dropping 2.4 per cent or S$0.10 to S$4.04.

The three local banks all ended in the red. DBS fell 0.7 per cent or S$0.24 to S$35.83, UOB slipped 0.2 per cent or S$0.07 to S$30.81, while OCBC lost 1.1 per cent or S$0.16 to S$14.39.