Singapore shares end lower on Friday; STI edges down 0.1%
Across the broader market, decliners outnumber advancers 287 to 247 as 1.4 billion shares worth S$1.5 billion change hands
SINGAPORE stocks finished Friday (Mar 7) lower, mirroring declines in regional indices.
The benchmark Straits Times Index (STI) inched down 0.1 per cent or 2.58 points to 3,914.48.
Across the broader market, decliners outnumbered advancers 287 to 247 after 1.4 billion shares worth S$1.5 billion changed hands.
The trio of local banks were mixed at the close on Friday. DBS was up 0.04 per cent or S$0.02 at S$45.98, UOB rose 0.1 per cent or S$0.03 to S$38.63, while OCBC lost 0.2 per cent or S$0.03 to end at S$17.16.
The top gainer on the STI was UOL , which climbed 1.6 per cent or S$0.09 to S$5.81.
Meanwhile, the top loser was Hongkong Land , which fell 2.6 per cent or US$0.12 to US$4.46.
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Across the region, most major indices ended the day lower. South Korea’s Kospi was down 0.5 per cent, Japan’s Nikkei 225 fell 2.2 per cent, Hong Kong’s Hang Seng Index lost 0.6 per cent, and Malaysia’s KLCI declined 0.8 per cent.
Growth concerns remain the dominant headwind for risk-taking as sentiments remain bearish, said IG market strategist Yeap Jun Rong, noting that a stronger catalyst is still needed for a sustained turnaround.
He also said that the United States Challenger Job Cuts report, released on Thursday, took centre stage – with layoffs at levels not seen since the last two recessions.
The surge in job cuts, coupled with mass federal government layoffs, cancelled contracts, and escalating trade war fears are amplifying concerns over a slowdown in consumer spending.
Tariff flip-flops also suggest that trade uncertainties will drag on for longer.
“The unpredictability of tariff negotiations have been challenging to price for markets, and the muted upside reaction to the announcement seems to suggest that market participants still foresee a narrower path to resolution ahead than initially expected,” said Yeap.
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