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Singapore shares close 0.3% lower on Tuesday

SINGAPORE shares closed lower on Tuesday as excitement over a supposed US-China trade deal died down.

China's September data further dampened the mood, showing a quickening slide in exports, continued contraction in imports and factory prices declining at the fastest pace in more than three years.

In Singapore, the Straits Times Index edged down 0.27 per cent or 8.28 points to 3,116.17. Trading was thin, with just 975.8 million securities worth S$728.8 million changing hands.

Losers outnumbered gainers 191 to 165.

Other markets in the region closed mixed. China stocks snapped a five-day winning streak on the back of the dire economic news, and Hong Kong ended lower as well. South Korea closed flat while Australia and New Zealand eked out some small gains.

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On the other hand, Japan’s Nikkei index surged nearly 2 per cent to close near a six-month high, with investors experiencing Monday’s euphoria a day late due to a long weekend holiday.

In the local market, Golden Agri-Resources was the top traded counter with 62.9 million shares changing hands. It gained 0.5 Singapore cent or 2.38 per cent to close at S$0.215.

It was followed by Y Ventures, which gained 0.5 Singapore cent or 4.46 per cent to S$0.117 on a volume of 28.4 million.

Among index counters, Yangzijiang Shipbuilding lost 0.51 per cent to S$0.97. Genting Singapore gained 0.55 per cent, ending at S$0.92.

Rex International called for a trading halt on Tuesday afternoon, pending the release of an announcement. No announcement had been made as at market close.

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