Singapore stocks fall, bucking regional trend; STI down 0.8%
ST Engineering is the worst performer among constituents of the blue-chip index
Add BT as a preferred source
[SINGAPORE] Singapore stocks ended lower on Friday (Jul 31), even as key regional indices ended higher.
The benchmark Straits Times Index (STI) lost 0.8 per cent or 45.08 points to finish at 5,628.50.
DFI Retail Group led the gainers on Singapore’s blue-chip index, rising 5.6 per cent or US$0.21 to US$3.95.
The worst performer among STI constituents was ST Engineering , which fell 5.4 per cent or S$0.58 to S$10.08.
The three local banks ended mixed on Friday. OCBC rose 0.1 per cent or S$0.03 to S$29.13, while DBS fell 1.1 per cent or S$0.83 to S$74.02 and UOB ended 1.1 per cent or S$0.48 lower at S$43.40.
Within the iEdge Singapore Next 50 Index, AEM was the top gainer, rising 8.9 per cent or S$0.67 to S$8.24. Top Glove was the index’s biggest decliner, falling 2.4 per cent or S$0.005 to S$0.205.
Across the broader market, gainers outnumbered losers 306 to 242, after 1.2 billion securities worth S$2.6 billion changed hands.
Elsewhere in the region, Hong Kong’s Hang Seng Index gained 0.1 per cent, Japan’s Nikkei 225 rose 4 per cent, South Korea’s Kospi was up 17.9 per cent and the FTSE Bursa Malaysia KLCI advanced 0.3 per cent.
In commodities, Masanori Odaka, vice-president for gas and liquefied natural gas (LNG) research at Rystad Energy, said that markets are “pricing in peace”.
“Easing tensions between the US, Israel and Iran are pulling gas prices down, though tight Gulf LNG supply is keeping a lid on how low they go,” he said.
He added that a Trump-Netanyahu meeting, a pause in US-Iran strikes and renewed diplomatic engagement have “lifted hopes that ceasefire talks could resume”.
“The lower geopolitical risk premium has pulled European and Asian gas prices down, but tight Middle Eastern LNG supply is keeping the decline in check.”
This article has been written with the assistance of AI and reviewed by a reporter
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
