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Geopolitics, rising bond yields put lid on Singapore shares

UNCERTAINTIES over geopolitical meetings and rising yield on the US 10-year Treasury note have put a cap on any upside potential of Singapore shares on Thursday.

After opening around 3,545.90, and hitting 3,550.62, the benchmark Straits Times Index (STI) ended at 3,536.76, up 0.11 per cent, or 3.71 points, from Wednesday's close.

More than 1.47 billion shares, worth S$1 billion, changed hands, with 174 gainers to 225 losers.

DBS, whose share price has risen 40 per cent over the past year, took a breather, closing at S$28.85, down seven Singapore cents, on more than 3.5 million shares traded.

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Singapore Telecommunications, which reported a 19 per cent fall in its fourth-quarter net profit on Thursday, closed two Singapore cents up, at S$3.44 a share. The stock is underpinned by hopes that the telco will keep its ordinary dividends of 17.5 Singapore cents a share for the next two years.

On a macro-front, the meeting between North Korean and US leaders may reportedly be called off if the US insists on denuclearisation for the isolated nation.