Singapore stocks end lower amid regional decline; STI down 0.3%

SINGAPORE stocks closed lower on Monday (Nov 27), tracking declines in the region.

The benchmark Straits Times Index (STI) fell 0.3 per cent, or 8.39 points, to end at 3,086.42. Losers outnumbered gainers 308 to 253, with 778.7 million securities worth S$663.7 million having changed hands.

Elsewhere in the region, key indices were largely down. The Nikkei 225 lost 0.5 per cent; the Kospi Composite Index slid 0.04 per cent; the Hang Seng Index fell 0.2 per cent; and the FTSE Bursa Malaysia KLCI declined 0.4 per cent.

Yeap Jun Rong, market analyst at IG, noted that greater cues for the risk environment may be presented this week, as US markets reopen from holidays.

Meanwhile, Singapore’s industrial production data last Friday surprised significantly on the upside, which helped to push back further on recession risks.

“Any follow-through from recent expansion will be on watch over the coming months to mark an improving trend in global demand,” Yeap said.

The biggest loser on the STI was Thai Beverage, which fell 3.8 per cent or S$0.02 to end at S$0.51.

Singtel was the biggest gainer on the index, increasing 1.3 per cent or S$0.03 to close at S$2.29.

The trio of local banks ended lower on Monday. DBS fell 0.3 per cent or S$0.08 to S$31.74; OCBC ended 0.2 per cent or S$0.02 lower at S$12.65; while UOB lost 0.3 per cent or S$0.08 to S$27.21.

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Singapore stocks open weaker on Monday; STI down 0.2%

Stocks to watch: NetLink NBN Trust, Marco Polo Marine, Straco, LHN, Sats, mm2 Asia

Marco Polo Marine shed S$0.001 or 1.9 per cent to S$0.051 on hefty turnover of 36.7 million shares despite the company reporting an improvement in second half net profit. The company has proposed a final dividend of S$0.001 a share.

Straco shot up S$0.075 or 18.8 per cent to S$0.475.

Last Friday, it reported a net profit of S$16.3 million for its third quarter ended Sep 30, putting it firmly in the black compared to a narrow profit of S$175,000 in the same quarter last year.