Singapore stocks nearly flat alongside weak trading sessions in the region; STI up 0.09%

SINGAPORE shares ended nearly flat on Thursday following another weak showing on Wall Street overnight with the prospect of economic recovery clouded by the latest wave of Covid-19 cases.

The benchmark Straits Times Index (STI) *STI closed 0.09 per cent or 2.76 points higher at 3,071.70.

"US equities fell overnight as conflicting signals on recoveries, employment and quantitative easing tapering saw investors err on the side of caution and take exposure off the table," said Jeffrey Halley, senior market analyst for Asia Pacific at Oanda.

That sense of caution has flowed into Asia, he added.

Most key benchmarks in the region ended the day in the red with Hong Kong's Hang Seng Index taking the biggest hit, declining 2.3 per cent as China tightened its grip on the gaming sector.

Regulatory crackdown concerns also loomed in South Korea with Seoul's Kospi falling 1.53 per cent.

Elsewhere, Japan's Nikkei 225 dipped 0.57 per cent while the Kuala Lumpur Composite Index shed 1.17 per cent; the Jakarta Composite Index ended the day 0.70 per cent higher.

Across the Singapore market, decliners outpaced advancers 293 to 203, after 1.50 billion securities worth S$1.27 billion changed hands.

The top-performing counter on the blue-chip index was Jardine Cycle & Carriage C07 , which was up 5.5 per cent or S$1.05 to S$20.31.

At the bottom of the table was Venture Corporation V03 which shed 1.5 per cent or S$0.29 to S$18.52.

Singtel Z74 was the most heavily traded on the STI, ending the day 0.9 per cent or S$0.02 higher at S$2.37 after over 27 million shares changed hands.