Singapore stocks slip as oil tops US$110; STI down 0.1%

[SINGAPORE] Singapore stocks ended marginally lower on Tuesday (Apr 28), as the Middle East conflict concluded its second month and Brent crude prices climbed above the US$110-a-barrel mark.

The benchmark Straits Times Index (STI) slipped 0.1 per cent or 5.04 points to close at 4,887.69 – close to the 4,890.86 level on Mar 2, the first trading day after the conflict began on Feb 28.

Seatrium was the top gainer among STI constituents, climbing 2.6 per cent or S$0.06 to S$2.40.

The biggest decliner was Mapletree Pan Asia Commercial Trust, which fell 3.6 per cent or S$0.05 to S$1.35.

Its manager on Tuesday reported a 2.6 per cent decline in distribution per unit to S$0.019 for the fourth quarter ended March, from S$0.0195 a year earlier. Revenue fell 5.5 per cent to S$210.7 million from S$222.9 million, dragged by weaker overseas contributions.

Singapore’s three local banks finished mixed. OCBC rose 0.4 per cent or S$0.08 to S$21.68, and UOB gained 0.2 per cent or S$0.06 to S$35.96. DBS edged down 0.1 per cent or S$0.04 to S$56.75.

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Within the iEdge Singapore Next 50 Index, Boustead Singapore was the top performer, rising 5.8 per cent or S$0.13 to S$2.36; UltraGreen.ai was the biggest loser, shedding 2.8 per cent or US$0.04 to US$1.39.

Across the broader market, losers outnumbered gainers 350 to 267, after two billion securities worth S$2 billion changed hands.

Regional markets were mixed. Hong Kong’s Hang Seng Index and Japan’s Nikkei 225 both fell 1 per cent, while South Korea’s Kospi gained 0.4 per cent and the FTSE Bursa Malaysia KLCI rose 0.7 per cent.