Singapore stocks end lower on Friday on slower retail growth; STI down 0.2%

THE Straits Times Index (STI) dipped slightly to close 4.99 points or 0.2 per cent lower at 3,083.85 points on Friday, as investor sentiment was cooled by weak retail sales data.

Advancers outnumbered decliners 263 to 217 for the day, with 2.02 billion shares worth S$971.4 million changing hands.

Singapore retail sales grew a marginal 0.2 per cent year on year in July, easing from the double-digit growth seen in the previous two months, data from the Department of Statistics Singapore (SingStat) showed on Friday.

"The deceleration in retail sales growth is likely due to the dissipation of low base effects seen in the first half of 2020," said UOB economist Barnabas Gan.

"For the rest of 2021, the low base seen in the months between August and December 2020 will remain a strong factor in supporting a rebound in retail sales growth in the coming months," he added.

Mercurius Capital Investment was among the most heavily traded counters on Friday, with 215.5 million shares changing hands. The counter closed 52.4 per cent or 2.2 Singapore cents higher at 6.4 cents.

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The top performer among the index's constituents was Mapletree Commercial Trust (MCT), which gained 1 per cent or S$0.02 to close at S$2.08.

At the bottom of the STI's performance table was Yangzijiang Shipbuilding, which fell 2.4 per cent or S$0.04 to S$1.62.

The trio of local banks closed mostly higher on Friday. DBS edged slightly up by 0.1 per cent or S$0.02 to S$30.12 and OCBC gained 0.2 per cent or S$0.02 to S$11.62, while UOB closed flat at S$25.56.

Meanwhile, Asian markets were mixed. The Nikkei 225 jumped 2.1 per cent or 584.60 points to end at 29,128.11, the FTSE Bursa Malaysia KLCI Index was up 0.4 per cent or seven points to 1,589.19, and the Kospi closed up 0.8 per cent or 25.21 points at 3,201.06. But the Hang Seng Index fell 0.7 per cent or 188.44 points to 25,901.99.