Singapore stocks fall amid mixed regional showing; STI down 0.3%

SINGAPORE shares struggled for direction on Wednesday (Nov 16), with the Straits Times Index (STI) closing 0.3 per cent or 9.11 points lower at 3,266.17 amid mixed regional performance.

In the broader market, gainers beat losers 292 to 271, after 1.7 billion securities worth S$1.5 billion were traded.

Oanda senior market analyst Edward Moya noted that US stocks tumbled overnight as reports emerged that a Russian missile had crossed over into Poland.

Since then, US officials have suggested that the missile which hit Poland was fired by Ukrainian forces at an incoming Russian missile.

Across the region, major markets were mixed. South Korea’s Kospi edged down 0.1 per cent, Hong Kong’s Hang Seng Index fell 0.5 per cent, while Japan’s Nikkei 225 rose 0.1 per cent.

On the STI, ST Engineering was the index’s strongest performer, gaining 2.3 per cent or S$0.08 to close at S$3.50. This comes after the company announced on Tuesday evening that its subsidiary, TransCore, has secured a contract worth S$1.47 billion to modernise the tolling infrastructure in New Jersey.

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Yangzijiang Shipbuilding was at the bottom of the table, declining 3 per cent or S$0.04 to S$1.31.

The trio of local banks ended in the red. DBS shed 0.3 per cent or S$0.11 to S$35.07, OCBC lost 0.4 per cent or S$0.05 to S$12.42, while UOB fell 0.5 per cent or S$0.16 to close at S$29.84.