Singapore shares largely unchanged on Monday; STI down 0.06%

SINGAPORE stocks ended slightly lower while most markets elsewhere in the region rose moderately on Monday (Apr 4), with Hong Kong leading the way after Chinese authorities moved to ease audit inspection barriers for US-listed China companies.

The benchmark Straits Times Index (STI) dipped 0.06 per cent or 2.14 points at 3,416.97, while major indexes in Japan, South Korea and Australia closed between 0.3 per cent and 0.7 per cent higher, as Hong Kong's Hang Seng Index ended 2.1 per cent higher.

Oanda senior market analyst Jeffrey Halley said much of the Asia equities ranged around unchanged as Covid-19 concerns in mainland China had capped sentiment, with a mainland holiday also sapping trading volumes.

In Singapore, Dairy Farm D01 was the top STI performer, finishing 2 per cent or US$0.06 higher at US$3.02. Trailing behind were Keppel DC Reit AJBU and Yangzijiang Shipbuilding BS6 , both of which gained 1.3 per cent to close at S$2.30 and S$1.56 respectively.

The trio of local banks, meanwhile, sustained 0.1 to 0.6 per cent losses on Monday, with UOB U11 dipping the most to end at S$31.76. OCBC O39 closed down 0.5 per cent or S$0.06 to end at S$12.34, while DBS D05 closed down 0.1 per cent or S$0.02 to end at S$35.53.

The top STI decliner was Ascendas Reit A17U , which shed 0.7 per cent to close at S$2.93.

Across the broader market, gainers outnumbered losers 307 to 173 after 1.34 billion shares worth S$938.6 million changed hands.