Singapore shares end lower amid mixed regional trading; STI down 0.2%

[SINGAPORE] Singapore stocks ended lower on Friday (Oct 9), amid mixed trading in the region.

The benchmark Straits Times Index (STI) lost 0.2 per cent or 11.07 points to finish at 5,401.89.

Yangzijiang Shipbuilding led the gainers on Singapore’s blue-chip index, rising 3.2 per cent or S$0.16 to S$5.10.

The worst performer among STI constituents was Mapletree Logistics Trust , which fell 1.8 per cent or S$0.02 to S$1.08.

The three local banks ended mixed. DBS lost 0.7 per cent or S$0.49 to S$73.36, UOB ended down 0.7 per cent or S$0.29 at S$39.96, while OCBC was unchanged at S$29.

Within the iEdge Singapore Next 50 Index, Yanlord Land was the top gainer, rising 5.2 per cent or S$0.025 to S$0.51, while Sheng Siong Group was the biggest decliner, falling 5.5 per cent or S$0.17 to S$2.92.

On Friday, Maybank Research analyst Hussaini Saifee downgraded the supermarket operator to a “hold” call from “buy”, and cut his target price on the counter to S$3.12 from S$3.22.

He noted that while Sheng Siong remains a high-quality operator, its current valuations leaves little room for the next leg.

Across the broader market, gainers outnumbered losers 332 to 209, after 1.4 billion securities worth S$2.6 billion changed hands.

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Capital World was the most actively traded stock with 158.4 million shares changing hands. DBS was the most actively traded stock in terms of value, with 9.7 million shares worth S$711.9 million traded.

Key regional indices were mixed. Hong Kong’s Hang Seng Index gained 1.8 per cent and the FTSE Bursa Malaysia KLCI was up 0.5 per cent. Japan’s Nikkei 225 ended almost flat, down 0.02 per cent.

Market observer Stephen Innes noted that the market is no longer debating whether artificial intelligence is transformative, but whether transformation at this scale can earn a return large enough to justify the financing bill.

At the same time, the bond market is asking what yield is needed to fund both Washington and the private-sector investment boom, he said.

Oil markets are also making sure that the US Federal Reserve cannot simply solve the problem with cheaper money, he added.

“Next week’s earnings season is where Wall Street starts checking whether the cash register can finally keep up with the construction crew.”

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