Singapore stocks continue losing streak on Wednesday, STI falls 0.7%

[SINGAPORE] Singapore stocks declined for a second straight day on Wednesday (Sep 30).

The benchmark Straits Times Index (STI) lost 0.7 per cent or 38.96 points to finish at 5,675.88.

Frasers Centrepoint Trust led the gainers on Singapore’s blue-chip index, rising 1.5 per cent or S$0.03 to S$2.09.

The worst performer among STI constituents was Venture Corp , which fell 2.8 per cent or S$0.47 to S$16.23.

The local banks all ended lower. DBS lost 1.1 per cent or S$0.88 to S$77.50, OCBC fell 0.5 per cent or S$0.17 to S$31.99, and UOB was down 1.1 per cent or S$0.48 at S$42.84.

Within the iEdge Singapore Next 50 Index, UMS Integration was the top gainer, rising 3 per cent or S$0.08 to S$2.71. Yanlord Land was the index’s biggest decliner, falling 2.8 per cent or S$0.015 to S$0.525.

Across the broader market, gainers trailed losers 250 to 283, after 1.5 billion securities worth S$2.5 billion changed hands.

Capital World was the most actively traded stock on the Singapore bourse on Wednesday, with 104 million shares changing hands.

DBS was the most actively traded stock in terms of value, with a volume of 5.9 million shares and a value of S$462.2 million.

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Key regional indices were mixed.

Hong Kong’s Hang Seng Index gained 0.4 per cent, Japan’s Nikkei 225 rose 1.9 per cent, South Korea’s Kospi was down 0.5 per cent and the FTSE Bursa Malaysia KLCI advanced 0.4 per cent.

The ongoing impasse between Washington and Teheran continues to roil markets, sending bond yields higher, said Jose Torres, senior economist at Interactive Brokers.

Wall Street fears that the US Federal Reserve will tighten monetary policy meaningfully to curb inflation as oil prices continue to soar.

Torres added that US President Donald Trump’s “disagreements with his Iranian counterpart are concerning investors because this conflict could be long-lasting, creating a headwind for government debt and stocks for an extended period”.

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