Singapore shares end week in the red, STI down 0.3%

CONTINUED uncertainty about Brexit talks and a US stimulus package caused Singapore shares to end the week lower alongside other markets in the region.

The benchmark Straits Times Index (STI) finished Friday's trading session at 2,848.98, down 0.3 per cent or 9.04 points. On the broader market, advancers outnumbered decliners 222 to 205, after some 1.76 billion securities worth S$1.71 billion changed hands.

Other Asian markets slipped as well. The KLCI lost 1.3 per cent; the Nikkei 225 fell 0.2 per cent, and the Hang Seng Index shed 0.7 per cent. The SSE Composite Index and Jakarta Composite Index, too, fell by 0.3 per cent and 0.2 per cent respectively.

However, the situation at Wall Street was different as traders grew optimistic about a round of fiscal stimulus that would shelter the US economy from the surging coronavirus case count.

All three indices ended Thursday's trading session in the black. The Dow Jones Industrial Average rose 0.5 per cent; the S&P 500 gained 0.6 per cent and the Nasdaq climbed 0.8 per cent.

Stephen Innes, chief global markets strategist at Axi, noted that some investors are "throwing in the towel" as market sellers are now looking to sell rather than "hold on to risk".

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"Liquidity should drain pretty quickly after we celebrate the last stimulus hurrah," he said. "There will likely be a few more upticks to go, but it is nearing to get off the vaccine and stimulus wave for a few weeks."

Among the 30 constituent stocks, Keppel DC Reit was the biggest advancer for the day. The counter gained 2.2 per cent or S$0.06 to close at S$2.79. A few other real estate investment trusts (Reits) also had gains. Mapletree Logistics Trust added 2.1 per cent or S$0.04 to S$1.96, while Ascendas Reit rose 0.7 per cent or S$0.02 to S$3.00

Jardine Strategic Holdings was the biggest loser, declining 2.6 per cent or US$0.67 to US$24.91.

DBS and UOB were also among the top decliners on the broader market. The former fell 1.1 per cent or S$0.28 to S$25.09, while the latter declined 0.7 per cent or S$0.16 to S$22.69.

Sembcorp Marine was the most heavily traded counter, with some 156.1 million shares changing hands over the course of the day. The stock ended the day at 14.6 Singapore cents, up 0.7 per cent or 0.1 cent.