Singapore stocks end lower on Tuesday, bucking regional trend; STI down 0.5%

SINGAPORE stocks ended lower on Tuesday (Jul 5), bucking the regional trend as most markets in the Asia-Pacific rose.

The benchmark Straits Times Index (STI) fell 0.5 per cent or 16.13 points to close at 3,104.11.

Elsewhere, key indices in Japan, Hong Kong, Australia and South Korea rose between 0.1 per cent and 1.8 per cent. 

IG market strategist Yeap Jun Rong noted that the quiet economic calendar yesterday meant that investors were focused on reports that the US could potentially ease tariffs on Chinese imports.

“Any decision on that front may aid to improve overall risk sentiments in the near term, being seen as beneficial to the world’s 2 largest economies, US and China,” he noted.  

“That said, the decision is still largely a black box — and whether it marks an eventual bottom for equities markets remains questionable.”

In Singapore, decliners outnumbered advancers 266 to 187 after 989.6 million securities worth S$834 million changed hands.

Just 2 of the 30 STI constituents ended the day in positive territory, with DBS the top gainer, after climbing 0.2 per cent to S$30.07.

CapitaLand Integrated Commercial Trust (CICT) was the most actively traded counter by value with some 53.8 million units worth S$111.4 million traded. 

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Morgan Stanley analyst Derek Chang downgraded the counter from equal weight to underweight, with a new target price of S$2.10, Bloomberg data showed. CICT was the second-worst STI performer on Tuesday, falling 3.3  per cent or S$0.07 to S$2.07. 

Jardine Cycle & Carriage ended at the bottom of the index performance table after sliding 3.7 per cent to S$26.72.