Singapore stocks fall, bucking regional gains; STI down 0.2%

[SINGAPORE] Singapore stocks ended lower on Wednesday (Aug 26), even as indices in the region rose.

The benchmark Straits Times Index (STI) lost 0.2 per cent or 14.09 points to finish at 5,721.59.

Sembcorp Industries led the gainers on Singapore’s blue-chip index, rising 1.2 per cent or S$0.07 to S$6.12.

The worst performer among STI constituents was DFI Retail Group , which fell 2.5 per cent or US$0.09 to US$3.55.

The local banks all ended lower. DBS lost 0.2 per cent to S$76.24, OCBC fell 0.2 per cent to S$31.44, and UOB was down 0.4 per cent at S$40.95.

Within the iEdge Singapore Next 50 Index, Golden Agri-Resources was the top gainer, rising 4.9 per cent or S$0.015 to S$0.32.

China Aviation Oil was the index’s biggest decliner, falling 4.1 per cent or S$0.06 to S$1.42.

Across the broader market, gainers outnumbered losers 281 to 244, after 938.6 million securities worth S$1.6 billion changed hands.

Addvalue Tech was the most actively traded stock on the Singapore bourse, with 77.1 million shares worth S$11.6 million changing hands. The counter rose 2.1 per cent or S$0.003 to S$0.149.

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Key regional indices were in the positive territory. Hong Kong’s Hang Seng Index gained 0.6 per cent, South Korea’s Kospi was up 1 per cent, Japan’s Nikkei 225 rose 0.6 per cent, and the FTSE Bursa Malaysia KLCI advanced 0.7 per cent.

Vishnu Varathan, managing director and head of macro strategy for the Asia-Pacific at Mizuho Securities (Singapore), said on Wednesday that impending US fiscal consolidation plans risk being a let-down for global markets.

Sceptical markets will raise the bar for fiscal consolidation, and long-end US Treasury yields are expected to remain particularly vulnerable to “sell America” risks, he added.

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