Singapore stocks track Wall Street losses, STI down 1.27%

SINGAPORE shares ended Wednesday in negative territory, tracking overnight losses on Wall Street as investors continue to grapple with lingering concerns over rising Covid-19 cases.

The Straits Times Index (STI) *STI closed at 3,068.94 points, down 1.27 per cent or 39.59 points.

US market sentiments "continue to revolve around the elevated virus cases and lacklustre August US jobs report", said IG market strategist Yeap Jun Rong.

Markets in Asia also largely tracked the weakness in the US's reopening sectors, according to Mr Yeap.

With the exception of Japan's Nikkei 225 and the Kuala Lumpur Composite Index which both gained 0.89 per cent, other key benchmark indices in the region ended the day lower.

Hong Kong's Hang Seng Index fell 0.12 per cent; Seoul's Kospi dipped 0.77 per cent while the Jakarta Composite Index shed 1.41 per cent.

Across the Singapore market, losers outpaced gainers 351 to 147, after 1.84 billion securities worth S$1.38 billion changed hands.

Of the 30 STI constituents, Hongkong Land Holdings H78 was the only counter that ended the day in the black.

Shares of Hongkong Land were up 2.3 per cent or US$0.11 to US$4.84 as the company continued to ride on the momentum from news of its intent to invest up to US$500 million to buy back its shares in a programme extending until Dec 31, 2022.

Meanwhile, Keppel DC Real Estate Investment Trust AJBU and Thai Beverage Y92 were unchanged at S$2.55 and 67.5 Singapore cents respectively.

At the bottom of the table was Jardine Matheson Holdings J36 , which fell 3.9 per cent or US$2.18 to US$54.20.

Genting Singapore G13 was the most active counter on the blue-chip index with over 25 million shares changing hands. Its shares were down 0.6 per cent or half a Singapore cent to 78 cents.