Singapore stocks close lower on Monday amid mixed trading in region; STI down 0.2%

SINGAPORE stocks closed lower on Monday (Jun 6), amid mixed trading in the region, as investors considered factors including higher oil prices and easing of Covid-19 restrictions in China.

The benchmark Straits Times Index (STI) fell 0.2 per cent or 5.34 points to 3,226.63.

Elsewhere, markets in China and Hong Kong led gains in the region, with the Shanghai Composite up 1.3 per cent, while the Hang Seng Index in Hong Kong rose 2.7 per cent. However, Australia’s ASX 200 fell 0.4 per cent, while the Jakarta Composite Index slipped 1.2 per cent.

Oanda senior market analyst, Jeffrey Halley, said in a note that an easing of Covid-19 restrictions in Beijing and reiterations of easy monetary policy in Japan had lifted sentiment in US futures and North Asian markets.

However, he noted that the picture was more mixed elsewhere, possibly due to higher oil prices and a weak close on Wall Street last Friday.

Across the broader Singapore market, gainers outnumbered decliners 277 to 214 after 1.8 billion securities worth S$938.8 million changed hands

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Yangzijiang Shipbuilding led gains on the STI, rising 2.6 per cent to close at S$1. Some 37.1 million shares worth S$37.3 million changed hands during the day, ranking it the sixth most actively traded counter by value.

The trio of local banks were also among most actively traded by value. UOB fell 0.7 per cent, while OCBC closed unchanged. DBS ended at the bottom of the STI performance table, after falling 0.9 per cent to close at S$30.71.

Shares of seafood supplier Oceanus were the most actively traded by volume. The counter jumped 35.3 per cent to close at S$0.023, after 280.7 million shares worth S$5.6 million were traded.