STI dips 0.38% with most Asian bourses also down on Delta variant concerns

SINGAPORE stock market declined on Tuesday, along with most Asian bourses as investors were concerned that the flare-ups in China and the United States caused by the Delta variant of the novel coronavirus might wreak havoc on global economies and supply chains.

The Republic's blue-chip gauge, the Straits Times Index (STI), closed at 3,149.25 points - 0.38 per cent or 11.97 points lower - despite the city-state posting a higher Purchasing Managers' Index on Monday night.

Gainers trailed losers 199 to 279 on the broader market, with 1.59 billion securities worth S$1.36 billion transacted.

Agribusiness group Wilmar International saw its share price rise by 2.79 per cent to S$4.42, a day after it announced that its 50 per cent owned Indian joint venture Adani Wilmar is pursuing initial public offering in India.

Of the 36 real estate investment trusts (Reits) that traded on Tuesday, 16 were down, 18 were flat, and only Starhill Global Reit and Lippo Malls Indonesia Retail Trust managed to eke out gains - 0.81 per cent and 1.61 per cent to S$0.62 and S$0.063 respectively.

Sembcorp Marine saw about 211.5 million of its shares change hands, making it the most traded counter for two days in a row. The shares closed at S$0.122 or 5.17 per cent higher.

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Japan's Nikkei 225 closed down 0.5 per cent to 27,641.83 points; Australia's S&P/ASX 200 dropped 0.23 per cent to 7,474.48 points. The Shanghai Composite Index was 0.47 per cent lower at 3,447.99 points, while Hong Kong's Hang Seng index declined 0.16 per cent to 26,194.82 points.

But South Korea's Kospi climbed 0.44 per cent to 3,237.14 points, while the FTSE Bursa Malaysia Kuala Lumpur Composite Index closed at 1,500.26 points, 0.49 per cent higher.