SINGAPORE shares ended Friday (Feb 9) in the red, after a half-day trading session on the eve of the Chinese New Year.

The local bourse’s blue chip barometer, The Straits Times Index (STI), fell 4.61 points or 0.2 per cent to 3,138.3.

Across the broader market, 251 losers outnumbered 212 gainers as 974.7 million shares worth S$696.3 million changed hands.

Some Asian markets, including those in China and South Korea, were closed for the Chinese New Year; Hong Kong’s Hang Seng Index fell 0.8 per cent after a half-day trading session.

Elsewhere in the region, the FTSE Bursa Malaysia Kuala Lumpur Composite Index was up 0.1 per cent as at 12.07 pm. Japan’s Nikkei 225 was up 0.7 per cent as at 12.13 pm.

Japan’s stock exchange hit 34-year highs earlier in the day, gaining after its central bank deputy governor Uchida Shinichi ruled out rapid interest rate hikes.

GET BT IN YOUR INBOX DAILY

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Sign UpVIEW ALL

The dovish comments also led to yen weakness, which Saxo’s Asia-Pacific strategy team said was “seemingly an overreaction” to Uchida’s comments.

“The US dollar-to-Japan yen exchange rate broke past the 148.8 resistance (level) to reach a high of 149.48,” the team added in a note.

In Singapore, CapitaLand Ascendas Real Estate Investment Trust : A17U 0% topped the STI, reversing its losses from the day before to end Friday at S$2.76, 2.2 per cent or S$0.06 higher.

Food processing company Wilmar International : F34 0% was the index’s biggest loser, down 4.3 per cent or S$0.14 to S$3.12.

Two of the three local banks declined on Friday. UOB : U11 0% was down 0.3 per cent or S$0.08 to S$28.14 and OCBC : O39 0% slid 0.2 per cent or S$0.03 to S$12.95. However, DBS : D05 0%gained 0.2 per cent or S$0.08 to S$32.54.