Singapore stocks: STI resumes Thursday afternoon down 0.82% on day

SINGAPORE shares resumed trading still deep in negative territory on Thursday, with the Straits Times Index down 26.38 points, or 0.82 per cent to 3,203.40 as at 1pm.

Losers outnumbered gainers 228 to 104, after about 973.7 million shares worth S$664.8 million changed hands.

Among the most heavily traded by volume, Yangzijiang Shipbuilding lost 2.5 per cent, or 2.5 cents to 99.5 Singapore cents, with 60.1 million shares traded, while Golden Agri-Resources tumbled 8 per cent, or two cents to 23 cents, with 40.2 million shares traded.

Banking stocks also faltered in the afternoon trade - DBS lost 1.9 per cent, or 49 cents to S$25.69, OCBC fell 1.4 per cent, or 15 cents to S$10.97, and United Overseas Bank dropped 0.9 per cent, or 23 cents to S$26.16.

Other active index stocks included Sembcorp Industries which was down 2.2 per cent, or five cents to S$2.20, and CapitaLand Mall Trust which shed 1.2 per cent, or three cents to S$2.46. CapitaLand also fell, by 0.8 per cent, or three cents to S$3.63.

On Thursday morning, real estate heavyweights CapitaLand Limited, City Developments Limited and Ascott Residence Trust said they will jointly redevelop the Liang Court site, which comprises Liang Court mall, Novotel Singapore Clarke Quay and Somerset Liang Court Singapore.