Singapore shares close flattish amid mixed regional showing; STI down 0.01%

[SINGAPORE] Singapore stocks ended flattish on Thursday (Aug 13) as regional indices turned in a mixed performance.

The benchmark Straits Times Index (STI) lost 0.01 per cent or 0.7 point to finish at 5,720.05.

City Developments Ltd led the gainers on Singapore’s blue-chip index, rising 4.3 per cent or S$0.34 to S$8.20.

The worst performer among STI constituents was UOL Group , which fell 6.1 per cent or S$0.62 to S$9.55.

The three local banks ended mixed. DBS rose 0.9 per cent or S$0.65 to S$76.50, and OCBC was up 1 per cent or S$0.31 at S$31.50. Meanwhile, UOB finished 0.6 per cent or S$0.25 lower at S$41.70.

Within the iEdge Singapore Next 50 Index, AEM was the top gainer, rising 14 per cent or S$1.35 to S$10.98, while China Aviation Oil was the biggest loser, falling 9.7 per cent or S$0.17 to S$1.58.

Across the broader market, losers beat gainers 314 to 255, after 1.4 billion securities worth S$2.9 billion changed hands.

Addvalue Tech was the most actively traded stock on the Singapore bourse, with 86.3 million shares changing hands.

DBS was the most actively traded stock in terms of value, with 5.2 million shares worth S$394.3 million traded.

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Key regional indices were mixed. Japan’s Nikkei 225 rose 1.2 per cent and South Korea’s Kospi was up 3.6 per cent. Hong Kong’s Hang Seng Index lost 0.2 per cent and the FTSE Bursa Malaysia KLCI declined 0.4 per cent.

Stephen Innes, managing partner at SPI Asset Management, said that the current calm of the markets is “difficult to read”, with intervention in the yen adding policy risk and the Iran situation unresolved.

“The market has earned some of this composure, but the macro backdrop is not giving it a clean bill of health,” he added.

He noted that fundamentals have been strong enough to keep risk assets moving, but there were still too many “loose wires hanging around for this level of calm to feel completely comfortable”.

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