STI down 0.4% amid mixed regional trade
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Wong Pei Ting
THE Singapore market closed lower on Wednesday (Aug 24) amid mixed regional trade.
Its benchmark Straits Times Index (STI) dropped 0.4 per cent or 12.73 points to 3,233.48. Losers outnumbered gainers 260 to 225 in the broader market, with 1.4 billion shares worth S$992.3 million changing hands.
Major indices in Hong Kong and Japan fell by 1.2 per cent and 0.4 per cent respectively, while those of South Korea and Australia each rose 0.5 per cent.
IG market strategist Yeap Jun Rong said some wait-and-see could be playing out in Asia markets, with the extent of sell-off easing in Wall Street from previous trading days.
The quiet economic calendar provided little catalysts of note, potentially reinforcing some inaction as well, he added.
Frasers Logistics and Commercial Trust came in at the bottom of the STI performance chart, sliding 2 per cent to S$1.38. Following behind was Capitaland Investment, which fell 1.3 per cent to S$3.76.
OCBC extended its 2-day losing streak into a third day, closing 0.8 per cent lower at S$11.99. UOB also traded lower, by 0.6 per cent or S$0.16 to end at S$27.35.
DBS was among 4 STI counters that closed higher, rising 0.2 per cent or S$0.05 to hit S$32.85.
The top STI performer of the day was Yangzijiang Shipbuilding, which climbed 1.1 per cent or S$0.01 to end at S$0.95.
In the broader market, Marco Polo Marine was the most actively traded counter by volume. It closed up 5.9 per cent at S$0.036, after 92.4 million of its shares worth S$3.3 million changed hands.
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