Singapore shares decline for second day on regional losses; STI down 0.2%

SINGAPORE shares fell for the second consecutive day on Tuesday (Dec 5) after big tech and other equities in most major markets fell.

The Straits Times Index (STI) lost 0.2 per cent or 6.92 points to end at 3,077.16. Across the broader market, losers outnumbered gainers 313 to 260, with 755.2 million securities worth S$727.2 million changing hands.

The top loser on the Singapore bourse was DBS. The counter fell 0.8 per cent or S$0.26 to S$31.44. Jardine Matheson, on the other hand, bagged the biggest gains of the day, rising 1 per cent, or US$0.41 to close at US$39.81.

The most actively traded index counters include Seatrium, which shed 1.9 per cent, or S$0.002 to finish at S$0.101. More than 183 million shares changed hands during the trading day.

Singtel’s shares also saw active trading on Tuesday. The stock finished up 0.9 per cent, or S$0.02 at S$2.30 after 21.2 million shares were traded.

This comes after the telco giant announced earlier in the day that it is building a new data centre in Tuas.

SEE ALSO

Singapore stocks mirror global retreat on Tuesday; STI down 0.1%

Elsewhere in the region, markets finished similarly in negative territory. The Bursa Malaysia KLCI closed down 0.1 per cent; the Hang Seng Index slipped 1.9 per cent; the Nikkei 225 fell 1.4 per cent and the Kospi Composite Index dropped 0.8 per cent.

Saxo market strategist Charu Chanana said: “Markets re-evaluated the pace of Fed rate cuts priced in for 2024, pushing Treasury yields higher and equities, especially big tech, lower.”

She noted some larger equity markets such as China also closed lower on Tuesday, while Bitcoin broke above US$40,000 for the first time this year.