Singapore stocks extend losses amid mixed Asia trading; STI down 0.5%
THE Straits Times Index (STI) retreated further into the red on Wednesday (May 25). Despite rising at the open, it ended down 0.5 per cent or 15.46 points at 3,179.58.
Regional markets were mixed. Stocks in Seoul rebounded, with the Kospi up 0.4 per cent, Hong Kong’s Hang Seng Index also ended up 0.3 per cent, and the Kuala Lumpur Composite Index rising 0.3 per cent. However, in Tokyo, the Nikkei 225 index ended down 0.3 per cent, while the Jakarta Composite Index slipped 0.4 per cent.
Oanda’s senior market analyst Jeffrey Halley said investors in Asia may be focusing on how the overnight moves on Wall Street are being counterbalanced by China equities rising modestly. The Nasdaq suffered another ugly round of selling on Tuesday amid weak earnings and economic data.
IG market strategist Yeap Jun Rong said geopolitical risks and China’s Covid-19 lockdowns remain “elements of uncertainty”, guided as likely to be more severe and prolonged than earlier expected.
Land transport company ComfortDelGro : C52 0% was at the bottom of the table among Singapore’s index constituents, tumbling 2.1 per cent or S$0.03 to end at S$1.42.
Sembcorp Industries : U96 0% was the top gainer, up 0.7 per cent or S$0.02 at S$2.81.
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Among the 3 local banks, UOB : U11 0% ended down 1.3 per cent or S$0.39 at S$28.83, OCBC : O39 0% fell 0.4 per cent or S$0.04 to S$11.56, while DBS : D05 0% ended flat at S$30.50.
The most active counter by volume was CapitaLand Integrated Commercial Trust : C38U 0%, which closed 0.9 per cent or S$0.02 lower at S$2.21, with 27.2 million units changing hands.
Gainers trailed losers 204 to 229 in the broader Singapore market, where 1.35 billion securities worth S$1.21 billion changed hands throughout the day.
KEYWORDS IN THIS ARTICLE
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
Why the yen is so weak and what that means for Japan
Europe: Stoxx ends lower as auto giants weigh; investors parse inflation data
US: Wall Street stocks fall as markets weigh strong wage data, Fed meeting
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Asia: Markets build on Wall Street rally, yen holds bounce