Singapore shares dip 0.3%, even as regional markets rise

[SINGAPORE] Shares on the Singapore bourse closed lower on Thursday (Oct 16), bucking the gains charted in most regional markets.

The benchmark Straits Times Index (STI) slipped 0.3 per cent, or 12.22 points, to 4,356.20. Across the broader market, decliners outnumbered advancers 305 to 227, with total turnover at S$1.5 billion.

Yangzijiang Shipbuilding was the STI’s top gainer, rising 1.9 per cent or S$0.06 to S$3.26.

Genting Singapore was the most actively traded STI counter by volume, with 52.6 million shares worth S$38.2 million changing hands. The counter closed 0.7 per cent or S$0.005 lower at S$0.725.

For the second straight day, Hongkong Land was the biggest decliner – falling 2.7 per cent or US$0.17 to US$6.13.

All three local banks ended the day lower. DBS dipped 0.5 per cent or S$0.24 to S$52.51, OCBC edged down 0.06 per cent or S$0.01 to S$16.81, and UOB fell 0.7 per cent or S$0.24 to S$34.58.

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Industrial property developer Soon Hock Enterprise closed 0.9 per cent or S$0.005 lower at S$0.58, which was its initial public offering price; it had debuted at S$0.63.

Across the region, major indices mostly advanced. Hong Kong’s Hang Seng Index fell 0.09 per cent or 22.09 points to 25,888.51, while Shanghai’s Composite Index rose 0.1 per cent or 4.02 points to 3,916.23.

Japan’s Nikkei 225 gained 1.3 per cent or 605.07 points to 48,277.74, and Malaysia’s FTSE Bursa Malaysia KLCI rose 0.05 per cent or 0.74 point to 1,612.29.