Singapore stocks close flat as traders keep watch on rates, inflation

SINGAPORE shares ended the final trading day of the week flat, as investors exercised caution and kept watch on macroeconomic data points. 

The Straits Times Index fell 0.04 per cent or 1.37 points to end Friday (Jun 30) at 3,205.91. Decliners narrowly beat out advancers 266 to 254, with 1.6 billion securities worth a total of S$1.9 billion changing hands. 

Charu Chanana, market strategist at Saxo, said that as the rate hikes from global central banks filter through to the economy, there are likely to be rising risks of an economic slowdown. 

“Even as the markets are currently looking more positive as the banking crisis and debt ceiling risks (have) been averted, (a) focus on economic data will likely be back in H2,” she said. 

Across the region, markets ended the day mixed. The Hang Seng Index and Nikkei 225 each lost 0.1 per cent, and the Bursa Malaysia shed 0.8 per cent. The Kospi was up 0.6 per cent, while the ASX 200 rose 0.1 per cent. 

On the local bourse, automotive stocks were among the top gainers for the day. Jardine Cycle & Carriage came out tops, rising 2.9 per cent or S$0.99 to S$34.80. Nio was another notable advancer, gaining 3.6 per cent or US$0.33 to US$9.58.

The trio of lenders ended the day mixed, with two of the three counters booking gains. UOB added 1 per cent or S$0.28 to S$28.00, and OCBC rose 0.3 per cent or S$0.03 to S$12.28. DBS , however, slipped S$0.01 to close at S$31.51. 

Jardine Matheson Holdings was the top decliner, falling 2.1 per cent or US$1.07 to US$50.65. 

Seatrium was the most heavily traded counter for the day, with about 368.8 million shares changing hands. The stock fell 0.8 per cent or S$0.001 to close at S$0.125. 

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Other heavily traded counters were Singapore Airlines , Yangzijiang Shipbuilding and Golden Agri-Resources .