Singapore stocks retreat as investors await US non-farm payroll numbers; STI down 0.2%
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Tay Peck Gek
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WITH key regional bourses closing in the red on Friday (Oct 7) amid a dismal Wall Street showing overnight, Singapore shares finished lower as well, with the Straits Times Index (STI) falling 5.75 points or 0.2 per cent to 3,145.81.
The STI capped a lacklustre week with a gain of just 0.5 per cent as a result of a two-day rally.
With the US non-farm payroll data out on Friday night (Singapore time), investors have been staying on the sidelines as the keenly watched economic numbers could have an impact on the Federal Reserve’s hawkish rate hike stance.
In Singapore, shares of Chinese electric car company Nio have been on a downward trajectory, with the counter sliding 9.6 per cent to US$14.47 on Friday. With its market value cut by S$9.2 billion in September, Nio would need to reinvigorate its shares for investors to stay the course.
ComfortDelGro shares closed 0.8 per cent lower at S$1.28, making the counter barely higher than its 52-week low of S$1.27. An RHB analyst, who noted the price had dipped 8 per cent since the counter exited the STI in September and is at its lowest level in 10 years, has pointed out that the transport player’s valuation is now “quite compelling”.
Mainboard-listed Sembcorp Marine, after its 389.1 million shares changed hands on Friday, became the most traded stock and has been hogging the position every day this week. The counter rose 1.7 per cent to S$0.117 on Friday.
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The Singapore Exchange noted that there were net institutional inflows of S$20 million into the stock in the first four trading days this week.
The broader Singapore market saw 256 losers against 220 gainers, with a turnover of 1.45 billion securities worth a total of S$973.75 million.
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