STI caps choppy week, ending lower by 0.3%

SINGAPORE shares capped a choppy week on a lower note on Friday, bucking the general trend of gains across the region.

The key Straits Times Index retreated 9.62 points or 0.30 per cent to 3,228.45. Week on week, the barometer was down 13.89 points or 0.42 per cent.

Key regional bourses in Japan, Hong Kong, China, Taiwan, South Korea, Malaysia and Australia ended the week with gains of between 0.2 per cent and 1.5 per cent.

The marginal losses in the Singapore bourse followed an overnight mixed showing by US indices after their recent sell-off, as a relatively quiet day for economic data left sentiments to revolve around the recent elevated inflation prints and corporate earnings, said IG market strategist Yeap Jun Rong.

The inflation narrative after the world's largest economies US and China reported hotter-than-expected consumer prices persists.

According to Trading Central, the STI's medium-term view remain bullish with a "limited rise" over the short term.

Some 2.26 billion units worth S$1.38 billion were traded on the local bourse on Friday. Gainers outpaced losers, with 279 counters up and 188, down. The day's losses were led by UOB, DBS and Singapore Airlines.

AWX hit an all-time high of S$4.78 by jumping S$0.40 or 9 per cent. The counter is Maybank Kim Eng's top tech pick with a 12-month target price of S$5.77.

5I0 was the day's most active counter, with 202 million shares traded. The stock inched up S$0.001 or 10 per cent to S$0.011. The medtech firm reported a net loss of US$596,000 for the third quarter, which had narrowed from US$3 million a year ago. It did not record any revenue for the period.

43E , with 128 million shares done on news of the Catalist-listed company's plans to raise funds via a new security token offering in Singapore, was the day's third most active stock. The counter closed unchanged at S$0.021.

E5H gained S$0.005 or 1.89 per cent to S$0.27. The palm oil plantation company reported that it reversed into the black for the third quarter, with net profit of US$115 million, a turnaround from its net loss of US$5 million a year ago, owing to higher average selling prices and an increase in sales volume.

S58 fell S$0.06 or 1.43 per cent to S$4.14. The ground-handling and inflight catering company reported a profit of S$13.2 million for H1 FY2021-2022, reversing a loss of S$76.9 million a year ago on the back of higher cargo volumes and ship calls.