S'pore shares finish the week lower as uncertainty looms

ONCE again, US President Donald Trump's ability to push through the tax cut reform has been called into question, overshadowing the month-on-month rise in US retail sales in November and moderate Chinese data.

The sell-off continued on Friday, erasing gains earlier in the week. The benchmark Straits Times Index lost 18.84 points or 0.55 per cent to end at 3,416.94. For the week, the index lost nearly eight points.

Much of the losses were chalked up by the banking stocks, which slid further for another day. Shares of DBS, OCBC and UOB knocked more than 13 points off the index. DBS finished at S$24.58, 40 cents or 1.6 per cent lower. OCBC ended the session down one cent to S$12.30, while UOB closed 36 cents lower at S$26.05.