Genting hits one-year low amid broader fall of Singapore stocks; STI down 1%

[SINGAPORE] Singapore stocks ended lower on Friday (Nov 13).

The benchmark Straits Times Index (STI) lost 1 per cent or 50.86 points to finish at 5,231.84.

Frasers Logistics & Commercial Trust led the gainers on Singapore’s blue-chip index, rising 1.1 per cent or S$0.01 to S$0.89.

The worst performer among STI constituents was Genting Singapore , which fell 5.7 per cent or S$0.035 to S$0.575.

The counter hit a one-year low on Friday, a day after the integrated resort operator reported a 42.2 per cent fall in net profit to S$54.7 million for its third quarter ended Sep 30.

The local banks all ended in the red.

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DBS lost 1.5 per cent or S$1.10 to close at S$69.90 after trading ex-dividend, OCBC fell 0.5 per cent or S$0.14 to S$28.53, and UOB was down 0.1 per cent or S$0.02 at S$37.75.

Tech stocks ended Friday higher. AEM and UMS were up 4.4 per cent at S$7.10 and 2.2 per cent at S$1.84, respectively.

The increases came despite news of Nvidia CEO Jensen Huang stepping down on revelations of extramarital affairs, including one involving a suspected Chinese spy. Huang’s departure threatens to disrupt the artificial intelligence industry, which he had helped to build up and promote.

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Within the iEdge Singapore Next 50 Index, First Resources was the top gainer, rising 6.5 per cent or S$0.18 to S$2.97.

Food Empire was the biggest decliner, falling 7.3 per cent or S$0.13 to S$1.66. The group on Thursday posted an 11.7 per cent rise in revenue to a record US$476.5 million for the nine months ended Sep 30, driven mainly by its core Russia and Central Asia segments.

Across the broader market, losers beat gainers 343 to 240, after 1.1 billion securities worth S$1.9 billion changed hands.

Key regional indices were mixed.

Hong Kong’s Hang Seng Index lost 1.5 per cent, South Korea’s Kospi was down 1 per cent and the FTSE Bursa Malaysia KLCI declined 0.2 per cent. Meanwhile, Japan’s Nikkei 225 rose 0.5 per cent.

This article was written with the assistance of AI and reviewed by a reporter