Singapore shares fall as local banks end lower; STI down 0.6%

[SINGAPORE] Singapore stocks ended lower on Wednesday (Aug 5).

The benchmark Straits Times Index (STI) lost 0.6 per cent or 30.88 points to finish at 5,581.37.

Keppel DC Reit led the gainers on Singapore’s blue-chip index, rising 3.2 per cent or S$0.07 to S$2.26.

The worst performer among STI constituents was Jardine Matheson , which fell 2.4 per cent or US$1.54 to US$63.44.

The local banks all ended lower. DBS lost 1.3 per cent or S$0.95 to finish at S$73.55, OCBC fell 0.3 per cent or S$0.09 to S$28.63, and UOB was down 0.4 per cent or S$0.19 at S$43.06.

Across the broader market, gainers outnumbered losers 332 to 266, after 1.2 billion securities worth S$2.1 billion changed hands.

Addvalue Tech was the most actively traded stock with 92.6 million shares changing hands.

DBS was the most actively traded stock in terms of value, with a volume of 5.9 million shares and a value of S$435.9 million.

Within the iEdge Singapore Next 50 Index, AEM SGD was the top gainer, rising 4.7 per cent or S$0.40 to S$8.93, while Ultragreen AI USD was the biggest decliner, falling 4.1 per cent or US$0.05 to US$1.18.

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Key regional indices were positive. Hong Kong’s Hang Seng Index gained 0.2 per cent, Japan’s Nikkei 225 rose 3.7 per cent, South Korea’s Kospi was up 3.8 per cent and the FTSE Bursa Malaysia KLCI advanced 0.9 per cent.

Maybank analysts on Wednesday highlighted that US Treasury Secretary Scott Bessent told CNBC that they may have a deal by Thursday to open the Strait of Hormuz.

Crude prices slipped below the US$80 a barrel as a result, aided by news that Opec crude production has increased by about 1.2 million barrels a day in July due to gains in Kuwait, Saudi Arabia and Iraq.

This move is set to provide “some relief for most” Asian and Group of Seven currencies, said the research house.

This article has been written with the assistance of AI and reviewed by a reporter