Singapore shares end lower as local banks decline; STI slips 0.2%
Jardine Matheson leads gainers on the blue-chip index
[SINGAPORE] Singapore stocks ended lower on Tuesday (Oct 20) as the benchmark Straits Times Index (STI) lost 0.2 per cent or 7.98 points to finish at 5,404.02.
Jardine Matheson led the gainers on Singapore’s blue-chip index, rising 3 per cent or US$1.67 to US$57.41.
The worst performer among STI constituents was Yangzijiang Shipbuilding , which fell 3.1 per cent or S$0.16 to S$4.99.
The local banks all ended lower. DBS inched 0.03 per cent lower to S$74.43, OCBC fell 0.4 per cent to S$28.80, and UOB was down 0.5 per cent at S$41.42.
Within the iEdge Singapore Next 50 Index, Boustead Singapore was the top gainer, rising 2.5 per cent or S$0.04 to S$1.63.
Keppel Reit was the index’s biggest decliner, falling 4.8 per cent or S$0.04 to S$0.785.
Across the broader market, gainers trailed losers 180 to 388, after 1.1 billion securities worth S$1.6 billion changed hands.
Addvalue Tech was the most actively traded stock with 105.7 million shares changing hands. DBS was the most actively traded stock in terms of value, with a volume of 2.3 million shares and a value of S$172.7 million.
Key regional indices were mixed on Tuesday.
Hong Kong’s Hang Seng Index and Japan’s Nikkei 225 each fell 1.3 per cent; South Korea’s Kospi slid 3.7 per cent. The FTSE Bursa Malaysia KLCI, meanwhile, advanced 0.2 per cent.
Looking ahead, Eugene Leow, senior rates strategist at DBS Group Research, said investors appeared to be growing more cautious about spending on data centres and semiconductors, even as US equities rebounded overnight.
“The wobble in (artificial intelligence)-related assets bears monitoring,” he said, adding that weaker optimism surrounding AI could dampen US growth expectations and lead to lower US Treasury yields.
This article was written with the assistance of AI and reviewed by a reporter
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
