Singapore stocks fall as weak sentiment lingers; STI down 0.5%

SINGAPORE shares ended lower on Wednesday (Sep 27), bucking most regional markets.

The Straits Times Index (STI) declined 0.5 per cent or 15.04 points to 3,200.03. Across the broader market, losers narrowly beat gainers 258 to 255, with 1.3 billion securities worth S$876.9 million changing hands. 

Key regional indices were mostly in the black. Hong Kong’s Hang Seng Index rose 0.8 per cent, South Korea’s Kospi Composite Index edged up 0.1 per cent, while the Nikkei 225 climbed 0.2 per cent. The FTSE Bursa Malaysia KLCI fell 0.4 per cent.

Australia’s S&P/ASX 200 slipped 0.1 per cent, as the country’s weighted inflation climbed 5.2 per cent year on year, in line with economists’ expectations.

Yeap Jun Rong, IG market analyst, noted that China’s August industrial profits registered a softer decline than in previous months. “Gains may be more lukewarm as the data still revealed a year-on-year decline while property sector risks linger,” he said.

The top gainer on the STI was Jardine Cycle & Carriage , which rose 1.6 per cent or S$0.51 to S$32.49. At the bottom of the index was Venture Corporation , which lost 2.2 per cent or S$0.28 to end the day at S$12.69.

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The trio of local banks were a sea of red on Wednesday. DBS fell 0.2 per cent or S$0.08 to S$33.43, as the bank assured customers that their delayed Fast and PayNow transactions should be processed by Wednesday. The service experienced delays on Tuesday.

OCBC slipped 0.1 per cent or S$0.01 to S$12.75, while UOB retreated 0.6 per cent or S$0.16 to S$28.24.