Singapore stocks fall on Thursday, tracking regional decline; STI down 0.5%
SINGAPORE shares lost ground on Thursday (Jun 9), in line with most markets in the region, with risk sentiment hit over fresh lockdowns in parts of Shanghai and inflation concerns.
The benchmark Straits Times Index (STI) fell 0.5 per cent or 16.18 points to close at 3,209.62.
Elsewhere, major indices in Shanghai, Malaysia, Australia and Hong Kong also closed lower, falling between 0.7 and 1.4 per cent.
Jeffrey Halley, senior market analyst at Oanda, noted that Asian markets were already facing dampened sentiment after key indices in the US fell overnight amid inflation worries.
A new lockdown announced in parts of Shanghai has also delivered ”a much-needed wake-up call around the reality of China’s Covid-zero policy to regional markets”, he added. “The chances of extended restrictions returning, with the ensuing drop in China's economic activity, remain as high as ever.”
On the local bourse, shares of Hongkong Land led declines on the STI, tumbling 5.5 per cent to US$5.01. The local banks were also among the decliners. UOB fell 1.2 per cent, OCBC lost 1.1 per cent while DBS retreated 0.5 per cent.
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Meanwhile, DFI Retail Group was the top index gainer after climbing 2.5 per cent to US$2.91.
Jardine Cycle & Carriage continued its stellar run in 2022, climbing 2.4 per cent to close at S$31.80, taking its gains for the year to date to 54.4 per cent.
Shares of Sembcorp Marine were the most actively traded by volume. The counter rose 0.8 per cent to S$0.12, after 224.7 million shares worth S$26.9 million were traded.
Across the broader market, decliners outnumbered gainers 254 to 210, after 1.9 billion securities worth S$1.3 billion changed hands.
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