Singapore stocks flat on Monday amid mixed regional showing; STI slips 0.03%

THE Straits Times Index (STI) edged down 0.03 per cent or 0.87 point to close at 3,180.47 points on Monday (Jul 25), following Wall Street’s lead last Friday.

Across the wider market, losers beat gainers 217 to 212, with 976.7 million shares worth S$770.8 million changing hands.

Oanda senior market analyst Jeffrey Halley said that Wall Street had unwound some of its gains on Friday as investors lightened positions ahead of heavyweight US earnings this week.

“Asian markets have been mostly content to follow Wall Street once again, although without the tail-chasing volatility, and are cautiously lower today,” he said.

In Singapore, market sentiment may also have been dampened by core inflation figures released on Monday, which rose to 4.4 per cent in June, from 3.6 per cent in May. Headline inflation in June climbed to 6.7 per cent, from 5.6 per cent a month earlier.

Across the region, Japan’s Nikkei 225 declined 0.8 per cent, Hong Kong’s Hang Seng Index fell 0.2 per cent while the Jakarta composite index shed 0.4 per cent. On the other hand, South Korea’s Kospi rose 0.4 per cent while the Kuala Lumpur composite index climbed 0.2 per cent.

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Singapore core inflation hits 4.4% in June, highest level since global financial crisis

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On the STI, the top gainer was CapitaLand Investment, which rose 2.1 per cent or S$0.08 to close at S$3.93.

Jardine Matheson Holdings was at the bottom of the table, shedding 2.5 per cent or US$1.38 to close at US$53.92.

The trio of banks were were mixed on Monday. UOB gained 0.2 per cent or S$0.04 to close at S$27.50, OCBC gained 0.2 per cent or S$0.02 to close at S$11.50 while DBS closed flat at S$31.26.