Weaker earnings drag STI down

Large caps, including CapitaLand, City Developments and Singtel, all end lower after posting disappointing results

Published Thu, Aug 8, 2019 · 09:50 PM

SINGAPORE shares fell on Thursday, bucking the recovery in most Asian markets, following weaker earnings results and risk aversion ahead of the long National Day weekend.

The Straits Times Index began the day in the red and eventually closed down 0.49 per cent or 15.75 points at 3,168.94.

Decliners and advancers were almost evenly matched, with 204 on lower ground versus 194 up.

Turnover on the bourse was slightly over 970 million shares worth S$1.14 billion.

"Investors fled from the equity market ahead of the four-day National Day holiday break," said CMC Markets analyst Margaret Yang. "Uncertainties over trades and weaker growth prospects shown in recent earnings re…

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