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Singapore stocks: STI resumes Friday afternoon at 3,387.76, down 0.2% on day

SINGAPORE stocks inched lower as trading resumed on Friday afternoon, with the Straits Times Index declining 0.16 per cent or 5.57 points to 3,387.76 as at 1.02pm.

Losers outnumbered gainers 161 to 140, after 372 million securities worth S$446.5 million changed hands.

Among the most heavily traded by volume, YZJ Shipbuilding lost 0.6 per cent, or one Singapore cent to S$1.56, with 14.3 million shares traded.

Other active stocks included UOL, which fell 2.2 per cent or S$0.17 to S$7.49; and SembMarine which dropped 1.8 per cent, or three Singapore cents to S$1.66. This comes after SembMarine on Friday morning posted a 67.8 per cent fall in Q1 net profit to S$1.7 million, on the back of lower revenue.

Meanwhile, Hi-P rose 2.1 per cent, or three Singapore cents to S$1.46. The mainboard-listed contract manufacturer on Thursday night announced a first-quarter net profit of S$10.7 million for the three months to March 31, up by 5.8 per cent from last year, though gross profit fell by 4.3 per cent to S$36.2 million, mainly due to price pressures and a change in product mix to more low-margin products.

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