Singapore stocks fall amid weak regional sentiment; STI down 0.8%

THE Straits Times Index (STI) fell 0.8 per cent, or 27.99 points, to 3,296.56 on Tuesday (Apr 25) amid weak market sentiment in the region.

In the broader market, losers beat gainers 326 to 231 after 1.6 billion securities worth S$1.1 billion changed hands.

Across the region, markets were mostly in the red. Japan’s Nikkei 225 index edged up 0.1 per cent, while Hong Kong’s Hang Seng Index declined 1.7 per cent and South Korea’s Kospi fell 1.4 per cent.

SPI Asset Management managing partner Stephen Innes noted that it has been challenging to “ascertain a clean read” on anything happening this week.

“One of the most challenging things about navigating this bear market and the widely anticipated coming recession is that we’ve had to differentiate between real and nominal economic and market variables like (never before) in recent decades,” he said.

The biggest gainer on the STI was CapitaLand Investment , which rose 0.5 per cent or S$0.02 to S$3.86.

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Meanwhile, Singtel was at the bottom of the table, shedding 3.2 per cent or S$0.08 to S$2.46. This was also the company’s sharpest decline in more than five months.

CapitaLand Integrated Commercial Trust was also heavily traded, with 26.7 million units changing hands. Units of the real estate investment trust closed up 0.5 per cent or $0.01 at S$2.06 on Tuesday.

The trio of local banks ended the day mixed. DBS gained 0.1 per cent or S$0.04 to finish at S$32.91, while UOB shed 0.6 per cent or S$0.18 to S$29.40, and OCBC fell 1.6 per cent or S$0.20 to close at S$12.62.