STI loses steam, down 0.4% at 2,532.96, but up 1.48% for the week

THE Straits Times Index (STI) ended Friday 10.15 points or 0.4 per cent down at 2,532.96 points, but still managed to notch up a 1.48 per cent gain over the week.

The STI's performance was in line with its regional counterparts, which lost steam after a rally that had extended for four days.

Singtel, in chalking up a 0.93 per cent gain, held the title of STI's top performer on Friday as it ended at S$2.17. This came after the telecommunications company reported it had launched 5G standalone trial network for enterprises.

In contrast, Jardine Strategic Holdings came in last on the STI performance table, after sliding 1.9 per cent to close at US$21.15.

Yangzijiang Shipbuilding was the most active STI stock with a trading volume of 20.3 million shares. It sank 1.52 per cent to S$0.975 at market close.

Advancers lost out to decliners 173 to 212 for the day, with 1.07 billion securities worth S$844.02 million traded.

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Asia markets were mixed.

The Shanghai Composite Index posted a 1.68 per cent gain to reach 3,272.08 points after an eight-day national holiday, boosted by generally favourable data that indicated China is recovering strongly from the pandemic slowdown.

The FTSE Bursa Malaysia KLCI Index was 0.72 per cent higher at 1,530.35 while Australia's S&P/ASX 200 index closed flat at 6,102.04.

Japan's Nikkei 225 Index slid 0.12 per cent to 23,619.69. Hong Kong's Hang Seng Index declined a further 0.31 per cent to 24,119.13, after being one of the few losers in Thursday's regional markets rally.

The South Korea Stock Exchange was closed for a holiday.