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Singapore stocks: STI resumes Tuesday afternoon at 3.167.24, down 0.1% on day
LACKING catalysts, regional markets drummed to their own beat on Tuesday, with the Singapore market continuing to trade moderately lower, weighed down by financials.
The Straits Times Index (STI) was trading at 3.167.24, down 3.53 points or 0.1 per cent, as at 1.04pm on Tuesday.
"Against the backdrop of a lack of reaction toward US President Donald Trump’s words (on not being ready to make a trade deal with China) and the vacuum of leads, Asia markets look to trade to its own tune from a mixed but muted start to Tuesday," IG market strategist Pan Jingyi observed.
Shortly after the afternoon session commenced, volume on the Singapore bourse clocked in at 307.42 million securities traded and a total turnover of S$331.20 million. With investors on the sidelines, volume and turnover are on track to finish below their respective averages over their averages from the first four months of the year.
Across the market, decliners beat advancers 144 to 134. Meanwhile, the benchmark index had 15 of the STI's 30 components trading in the red.
Among them, Singtel was the benchmark index's most traded stock, with eight million shares changing hands. The telco's slid to trade three Singapore cents or one per cent lower at S$3.14 after fellow telco M1 revealed that it will replace its existing 19 mobile plans with one base plan each for SIM-only and handset bundles from Tuesday.
StarHub shares also traded lower, dipping one Singapore cent or 0.7 per cent to S$1.50.
Financials weighed on the STI's performance. DBS Group Holdings was 10 Singapore cents or 0.4 per cent lower at S$24.96, OCBC Bank dropped six Singapore cents or 0.6 per cent to S$10.93 and United Overseas Bank pared Monday's gains to trade at S$24.56, down 14 Singapore cents or 0.6 per cent.
Among regional markets, Australia, Japan and Malaysia were up 0.5 per cent, Hong Kong added 0.7 per cent and China advanced 1.1 per cent. Meanwhile, South Korea was flat.