The Business Times

Singapore shares down 1.25 per cent amid global uncertainties

Published Thu, Oct 15, 2020 · 09:45 AM

THE benchmark Straits Times Index (STI) extended its losses on Thursday and fell 1.25 per cent or 31.97 points to close at 2,523.62, amid grim news surrounding the world's economy such as Brexit, a resurgence in Covid-19 cases across European countries and the lack of progress on US stimulus updates.

Sembcorp Industries emerged top in the STI performance table, gaining 4.41 per cent or S$0.06 to close at S$1.42.

Coming in second was Keppel Corporation, which inched up 1.34 per cent or S$0.06 to close at S$4.54.

The Singapore Exchange said on Thursday that Keppel DC Reit, the largest stock on the STI reserve list as at Oct 14, is scheduled to join the index on Oct 19 as CapitaLand Commercial Trust will be deleted in preparation for its merger with CapitaLand Mall Trust.

Keppel Capital, the asset management arm of Keppel Corp, has a 50 per cent interest in the manager of Keppel DC Reit.

Meanwhile, Wilmar International was top decliner for the day among the STI constituents, shedding 6.44 per cent or S$0.30 to close at S$4.36.

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The trio of banks also ended the day in the red. OCBC Bank fell 1.26 per cent or S$0.11 to close at S$8.63, while UOB declined 1.22 per cent or S$0.24 to close at S$19.46. DBS closed down 1.17 per cent or S$0.25 at S$21.07.

Decliners outnumbered advancers 271 to 167 on Thursday, with 1.27 billion securities worth S$1.28 billion changing hands.

Across the region, Asian markets also ended the day down.

The Nikkei 225 Index slipped 0.51 per cent or 119.5 points to close at 23,507.23, while the benchmark Kospi fell for a third straight session, closing 0.81 per cent or 19.27 points down at 2,361.21.

The Shanghai Composite Index similarly fell 0.26 per cent or 8.6 points to close at 3,332.18, after Chinese President Xi Jinping's keynote address in Shenzhen on Wednesday failed to fuel the country's stock rally.

Jeffrey Halley, Oanda's senior market analyst for the Asia-Pacific, called the speech "heavy on rhetoric, but light on new initiatives and at the end, not market-moving for Asia at all".

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