Singapore shares buck regional trend; STI slips 0.1%

SINGAPORE shares ended in the red on Friday (Feb 14), after hitting a record high earlier in the week.

The benchmark Straits Times Index (STI) lost 0.1 per cent or 5.08 points to 3,877.50, even as most regional markets ended higher.

Across the broader market, gainers beat losers 349 to 219, after 1.5 billion securities worth S$1.4 billion changed hands.

The biggest decliner on the STI was Singapore Exchange (SGX) . The counter, which was trading ex-dividend, slid 5.8 per cent or S$0.78 to S$12.69.

The drop indicated dampened optimism among investors a day after the Monetary Authority of Singapore unveiled its initial proposals to revive the local stock market. Citi Research on Friday downgraded its call on SGX to “Sell”, as it expects the recent optimism priced into the counter’s valuation to unwind.

The top gainer on the index was property developer Hongkong Land , which climbed 4.1 per cent or US$0.17 to close at US$4.35.

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Offshore and marine company Seatrium was the most actively traded counter by volume, with 51.9 million shares worth S$132 million traded. The counter rose 1.2 per cent or S$0.03 to S$2.58.

Elsewhere in the region, Australia’s ASX 200 climbed 0.2 per cent, the Shanghai Composite Index rose 0.4 per cent, and South Korea’s Kospi advanced 0.3 per cent.