Singapore shares end nearly flat, STI down 0.05%

SINGAPORE shares ended nearly flat on Tuesday (Nov 16) following overnight dips on Wall Street as US investors tread cautiously ahead of the release of retail sales data.

The Straits Times Index (STI) *STI closed at 3,238.80 points, down 0.05 per cent or 1.78 points.

The US's retail sales figures, said UOB in a note, will be a gauge for whether consumers are willing to spend, even as sentiment has weakened.

"The report should show that the effects of the Covid-19 pandemic fading, as parts of the economy are rebounding," said UOB.

Said IG market strategist Yeap Jun Rong: "Overall, strength in economic conditions, along with rising price pressures, supports the case of an earlier interest rate lift-off and markets will be looking towards the upcoming US retail sales data for confirmation."

Across the Singapore market, gainers outpaced losers 261 to 200 after1.58 billion securities worth S$1.17 billion changed hands.

Thai Beverage Y92 was the best-performing on the blue-chip index, gaining 1.4 per cent or S$0.01 to S$0.735.

At the bottom of the table was Singtel Z74 , which fell 1.6 per cent or S$0.04 to S$2.54.

Reopening plays from the hospitality and transport sectors saw heavy trading. Genting Singapore G13 was the most heavily traded counter on the STI with some 38.9 million shares changing hands. Its shares were up 1.2 per cent or S$0.01 to S$0.835.

ComfortDelGro C52 was the next most active counter on the index with about 27.2 million shares changing hands. Shares of the transport operator gained 0.7 per cent or S$0.01 to S$1.51.

DBS Group Research said in a report that the reopening of economy, jobs support and "worst over" mentality could provide support to ComfortDelGro's share price.

With the exception of South Korea's Kospi which fell 0.08 per cent, key benchmark indices in the region ended the day higher.

Japan's Nikkei 225 was up 0.11 per cent; Hong Kong's Hang Seng Index gained 1.27 per cent; the Kuala Lumpur Composite Index edged up 0.04 per cent and the Jakarta Composite Index rose 0.53 per cent.