Singapore shares drop in tandem with regional bourses; STI down 0.1%

[SINGAPORE] Singapore stocks ended lower on Thursday (Nov 12).

The benchmark Straits Times Index (STI) lost 0.1 per cent or 6.96 points to finish at 5,282.7.

Sats led the gainers on Singapore’s blue-chip index, rising 4.3 per cent or S$0.17 to S$4.17. The air cargo handler and airline caterer posted a 2.8 per cent rise in net profit to S$81.1 million for its second quarter ended Sep 30.

The worst performer among STI constituents was City Developments Ltd ( CDL ), which fell 6.7 per cent or S$0.48 to S$6.64. The counter hit a one-year low earlier in the day, after CDL warned of “significantly weaker” performance for its second half.

The group cited adverse foreign-exchange movements and potential property impairment among reasons for its lacklustre outlook.

The three local banks ended mixed on Thursday. DBS rose 0.04 per cent or S$0.03 to S$71, UOB was up 0.5 per cent or S$0.19 at S$37.77, but OCBC finished 0.5 per cent or S$0.15 lower at S$28.67.

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Within the iEdge Singapore Next 50 Index, NTT DC Reit was the top gainer, rising 3.3 per cent or US$0.03 to US$0.93. PC Partner was the biggest decliner, falling 8.8 per cent or S$0.19 to S$1.96.

Across the broader market, gainers lagged losers 224 to 338, after 1.1 billion securities worth S$1.7 billion changed hands.

Key regional indices ended in the red.

SEE ALSO

Sats Q2 net profit rises 2.8% to S$81.1 million on higher cargo and meal volumes

ComfortDelGro 9M net profit falls 20% to S$141.1 million on weaker taxi and private-hire earnings

SIA’s carrying value of its Air India investment down a further S$335 million

Hong Kong’s Hang Seng Index lost 1.3 per cent, Japan’s Nikkei 225 fell 0.7 per cent, South Korea’s Kospi was down 0.6 per cent and the FTSE Bursa Malaysia KLCI declined 0.6 per cent.

This article was written with the assistance of AI and reviewed by a reporter