STI slips 0.1 % amid mixed regional trading

SINGAPORE stocks closed lower on Thursday (Nov 23) amid mixed regional trading.

The benchmark Straits Times Index (STI) fell 0.1 per cent or 3.17 points to close at 3,111.75.

Shares of Venture Corporation were the top index decliner, after falling 1.9 per cent to close at S$12.80. The local banks also ended in the red. DBS and OCBC fell 0.3 per cent, while UOB shares closed 0.1 per cent lower.

Meanwhile, DFI Retail Group was the top STI performer, with the shares climbing 1.8 per cent to close at US$2.29. Other top performers include Hongkong Land which rose 1.5 per cent, and Yangzijiang Shipbuilding, which was up 1.4 per cent.

Across the broader market, gainers outnumbered losers 326 to 224, after 1.1 billion securities worth S$553.9 million changed hands.

Elsewhere in the region, markets traded mixed ahead of the Thanksgiving holiday in the US. Key indices in Australia, Taiwan and Malaysia closed lower, slipping between 0.1 per cent and 0.6 per cent, but markets in South Korea and Hong Kong ended higher, following overnight gains on Wall Street.

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“Investors have reasons to be thankful this week with rising stocks, cooling inflation (and) declining Treasury yields,” said SPI Asset Management managing partner Stephen Innes.

“The American consumer remains resilient, consistently contributing to economic growth even during challenging times,” he added, but noted that the upcoming Black Friday shopping day would also be a test on consumer resilience.

“Various retailers have provided cautious or disappointing fourth-quarter outlooks, casting a shadow over the crucial holiday season as the most significant shopping day of the year, Black Friday, approaches,” he said.