Singapore stocks: STI resumes Thursday afternoon down 0.41% on day

SINGAPORE shares edged lower on Thursday afternoon, with the benchmark Straits Times Index losing 0.41 per cent, or 13.21 points to 3,208.46 as at 1pm.

Advancers outnumbered decliners 146 to 122, after about 557.9 million shares worth S$184.5 million changed hands.

Among the most heavily traded by volume, Rex International gained 3.7 per cent, or 0.7 Singapore cent to 19.6 Singapore cents, with 54.8 million shares traded, while Broadway Industrial Group jumped 7.1 per cent, or 0.9 Singapore cent to 13.5 Singapore cents, with 49.1 million shares traded.

On Thursday morning before the market opened, Rex International said its indirect subsidiary Masirah Oil has entered into preference share subscription agreements to raise some US$17 million.

Meanwhile, banking stocks fell in the afternoon trade. DBS slipped 0.7 per cent, or 17 Singapore cents to S$25.82, United Oversesas Bank lost 0.4 per cent, or 11 Singapore cents to S$26.22, and OCBC Bank shed 0.5 per cent, or five cents to S$10.93.

Other active stocks included Dyna-Mac Holdings which soared 10.5 per cent, or 1.5 Singapore cents to 15.8 Singapore cents, while Eagle Hospitality Trust declined 1.8 per cent, or one US cent to 54 US cents.

Offshore oil and gas contractor Dyna-Mac Holdings has seen its shares jump for the second time this week, after the counter rose as much as 8.3 per cent to 14.3 Singapore cents amid active trading on Tuesday morning.