Singapore stocks track regional declines; STI down 0.1%

[SINGAPORE] Singapore stocks ended lower on Tuesday (Jan 20), extending their fall for a second consecutive day amid a wider regional decline.

The benchmark Straits Times Index (STI) lost 0.1 per cent or 6.88 points to finish at 4,828. Meanwhile, the iEdge Singapore Next 50 Index fell 0.5 per cent or 7.9 points to 1,480.03.

Across the broader market, gainers edged out losers 307 to 285 after 2.5 billion securities worth S$1.7 billion changed hands.

Key regional indices were in negative territory. Hong Kong’s Hang Seng Index declined 0.3 per cent, South Korea’s Kospi lost 0.4 per cent and the FTSE Bursa Malaysia KLCI slid 0.8 per cent.

“Asian equities opened cautiously, Europe flinched and safe havens were quietly restocked,” noted Stephen Innes, managing partner at SPI Asset Management.

“Japan’s bond market is already on edge, with long-dated yields pushing into uncharted territory after election-related fiscal chatter,” he added.

The Nikkei 225 fell 1.1 per cent on Tuesday.

DFI Retail Group led the gainers on Singapore’s blue-chip index, rising 4.8 per cent or US$0.19 to end at US$4.12.

The worst performer among STI constituents was Seatrium , which fell 1.9 per cent or S$0.04 to S$2.12.

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The three local banks ended mixed. OCBC rose 0.2 per cent or S$0.04 to S$20.35, while DBS finished 1 per cent or S$0.58 lower at S$58.13 and UOB fell 0.3 per cent or S$0.10 to S$36.74.