The Business Times

Singapore shares fall 0.4% on Friday but rise slightly for the week

Published Fri, Jul 30, 2021 · 06:07 PM

SINGAPORE shares closed lower on Friday, tracking a decline across major markets in the region amid concerns over the spread of Covid-19.

The benchmark Straits Times Index (STI) fell 0.4 per cent or 13.67 points on Friday to close at 3,166.94. However, the index was still up 0.3 per cent for the week, marking the fifth consecutive week of gains.

Keppel Corp and Jardine Cycle & Carriage (JCNC), which reported earnings and declared dividends on Thursday were the top STI gainers on Friday

Keppel Corp rose 1.9 per cent to close at S$5.49, after it posted a net profit for H1 2021, reversing a net loss from a year ago. Meanwhile, JCNC also reported an increase in its underlying profits for the first half, and its shares rose 1 per cent to S$20.50.

Dairy Farm International fell 5.5 per cent on Friday to close at US$3.76 and was the largest decliner for the day and the week. The company had on Thursday reported a 69 per cent decline in underlying net profit for its first half.

Mapletree Industrial Trust was the top gainer on the STI for the week, with its shares rising 4.2 per cent over the past week to S$3.

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Across the broader market, losers outnumbered gainers 267 to 213 after 1.84 billion securities worth S$1.62 billion changed hands on Friday.

Elsewhere in the region, markets mostly closed lower on Friday, with worries over rising Covid-19 infections in the region and China's regulatory crackdown among the factors weighing on investor sentiment.

Oanda senior market analyst Jeffrey Halley said in a note: "All in all, it looks like investors are taking risks off the table over the weekend. With sentiment remaining fragile, despite some stabilisation yesterday, the fast-money herds don't need much to spook them."

Japan's Nikkei 225 fell 1.8 per cent, while the Kospi in South Korea fell 1.2 per cent. Stocks in China and Hong Kong also closed lower on Friday; the Shanghai Composite Index fell 0.4 per cent, while the Hang Seng Index was down 1.3 per cent.

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