Singapore shares close flat on Thursday as regional markets struggle for direction

SINGAPORE shares closed little changed on Thursday, with markets in the region also struggling for direction.

The benchmark Straits Times Index (STI) rose 0.03 per cent or one point to close at 3,119.62. Across the broader market, gainers outnumbered losers 231 to 224 after 1.48 billion securities worth S$983.8 million changed hands.

Leading the gainers on the STI was Venture Corporation, with its shares rising 1.9 per cent or S$0.34 to S$18.42. Aviation-related counters Singapore Airlines and SATS finished at the bottom of the index for Thursday, each declining 1.2 per cent to S$4.96 and S$4.02 respectively.

DBS Group Research said on Thursday that the preparation of a road map for Covid-19 being endemic, as more people get vaccinated, could be positive for domestic reopening names.

Among the beneficiaries it sees are public transportation players and retail real estate investment trusts (Reits) including ComfortDelGro, Lendlease Global Commercial Reit, and Mapletree Commercial Trust. Lendlease Reit's units rose 1.3 per cent on Thursday, while Mapletree Commercial Trust units climbed 0.5 per cent. Shares of ComfortDelGro closed unchanged.

Elsewhere in Asia, markets were mixed on Thursday. Shares in Japan and Shanghai closed little changed, while key indices in Hong Kong and South Korea registered small gains of between 0.2 and 0.3 per cent. Malaysia's KLCI fell 0.6 per cent, while the ASX200 in Australia slipped 0.3 per cent.

Oanda senior market analyst Jeffrey Halley said: "It remains a day trader's market this week, and intra-day swings will continue to shift on (US Federal Reserve) speaker headlines. Next week should see the return of more directional moves."