Straits Times Index dips 0.26% in directionless cruise

THE Singapore bourse's key Straits Times Index fell 6.45 points or 0.26 per cent to 2,504.76 on Tuesday as prices seesawed on directionless auto pilot.

Lacklustre trading volumes underpinned caution that was led by worries over the global economy and growing US-China spat while the generally uneventful atmosphere was partly owing to overnight calm - holidays in the US and Canada - and a data vacuum.

Brexit news, to some extent, made up for the lull after UK Prime Minister Boris Johnson threatened to walk away from trade deal talks with the European Union which renewed hard-Brexit fears.

All the other major Asian bourses posted gains at finish, from Japan, Hong Kong, China, Taiwan, South Korea to Australia and Malaysia.

Trading volume on the Singapore market totalled 1.3 billion shares worth S$943 million.

STI's losses were led by the three banking stalwarts DBS, OCBC and UOB whose falls collectively shaved off 3.5 index points from the STI. Among the STI constituents, eight counters were up and 18 closed down.

Sembcorp Marine was one of the top 10 active counters with 24 million shares worth S$4.7 million done. The stock fell 0.6 Singapore cent or 3 per cent to 19.3 Singapore cents. On Monday, it announced that its rights issue was undersubscribed and that Temasek Holdings would mop up the undersubscribed portion as earlier agreed.

Raffles Education Corp jumped 3.6 Singapore cents or 32 per cent to finish at 15 Singapore cents. The stock had risen by as much as 39 per cent on Tuesday. When queried by the Singapore Exchange for unusual price movements, the private education provider said it was not aware of any explanation for the unusual trading activity.

For full listings of SGX prices, go to https://www2.sgx.com/