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Singapore stocks: STI resumes Thursday afternoon down 0.31% on day

SINGAPORE shares resumed trading in negative territory on Thursday, with the Straits Times Index (STI) losing 0.31 per cent, or 9.96 points to 3,229.26 as at 1.02pm. 

Losers outnumbered gainers 179 to 147, after about 882 million shares worth S$463.3 million changed hands. 

Among the most heavily traded by volume, Rex International gained 3.1 per cent, or 0.6 Singapore cent to 19.9 cents, with 49.3 million shares traded, after the company posted that it is back in the black with a Q3 profit of US$582,000 versus a loss of US$1.6 million for the year-ago period. 

Meanwhile, Golden Agri-Resources tumbled 5.7 per cent, or 1.5 Singapore cents to 25 cents, with 34.6 million shares traded. This came even as the palm oil plantation owner on Thursday posted a net profit of US$801,000, reversing from a loss of US$53.9 million last year, as lower expenses and other income gave a boost to its bottom line.

Banking stocks also continued to be in the red by the afternoon trade. DBS slipped 0.6 per cent, or 16 cents to S$26.47 on a cum-dividend basis, United Overseas Bank dropped 0.8 per cent, or 21 cents to S$26.52, and OCBC Bank shed 0.3 per cent, or three cents to S$11.07.

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Other active index stocks included Mapletree Commercial Trust, which gained 2.2 per cent, or five cents to S$2.30, while ComfortDelGro lost 2.9 per cent, or seven cents to S$2.31. 

Also in the spotlight was Yoma Strategic, which soared on the back of news that Philippine conglomerate Ayala would be coming on board as its second-largest shareholder, after taking a maximum 20 per cent stake in the company for US$155 million.

The counter jumped 15.4 per cent, or five Singapore cents to 37.5 cents, with some 19.1 million shares traded, making it one of the most hotly traded counters on the Singapore bourse for the day. 

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