Singapore stocks little changed on Thursday amid cautious trading; STI up 0.03%

SINGAPORE shares were little changed amid cautious trading on Thursday, with investors wary over an increase in Covid-19 infections in the Republic.

The Straits Times Index (STI) edged up slightly to close up 1 point or 0.03 per cent at 3,088.84 points on Thursday.

Advancers outnumbered decliners 270 to 185 for the day, with 1.97 billion shares worth S$1.17 billion changing hands.

"In Singapore, Covid-19 cases continue to see an uptick, with concerns over increasing risks to its reopening plans. That said, having 80 per cent of its total population being fully vaccinated, a more likely scenario may be a delay in timeline for reopening, rather than a rollback to previous restriction measures," said IG market strategist Yeap Jun Rong.

The top performers among the index's constituents were Mapletree Logistics Trust (MLT) and Yangzijiang Shipbuilding (YZJ). Units of MLT closed 2.9 per cent or S$0.06 higher at S$2.11, while YZJ shares ended up 1.2 per cent or S$0.02 at S$1.66.

At the bottom of the STI's performance table were Jardine Cycle & Carriage (Jardine C&C) and Dairy Farm International, both members of the Jardine Matheson Group. Jardines C&C closed 1.3 per cent or S$0.26 down at S$19.39, while Dairy Farm ended 1.1 per cent or US$0.04 lower at US$3.56.

The trio of local banks also closed lower on Thursday. DBS was down 0.4 per cent or S$0.13 to S$30.10, UOB fell 0.4 per cent or S$0.09 to S$25.56, and OCBC slipped 0.1 per cent or S$0.01 to S$11.60.

Meanwhile, Asian markets were mixed. The Hang Seng Index edged up 0.2 per cent or 62.14 points to 26,090.43, and the Nikkei 225 rose 0.3 per cent or 92.49 points to 28,543.51. But the Kospi ended a four-day rally and closed down 1.0 percent or 31.17 points at 3,175.85, while the FTSE Bursa Malaysia KLCI Index slipped 0.3 per cent or 4.7 points to 1,582.19.