Singapore stocks end lower on Friday; STI down 0.1%
The blue-chip barometer’s worst performer is Venture Corporation, falling 3.1% or S$0.56 to close at S$17.64
[SINGAPORE] Singapore stocks ended lower on Friday (May 15).
The benchmark Straits Times Index (STI) lost 0.1 per cent or 6.86 points to finish at 4,989.08.
Singapore Airlines led the gainers on Singapore’s blue-chip index, rising 2.4 per cent or S$0.15 to S$6.42.
The group on Thursday evening announced a 53.6 per cent year-on-year decline in net profit for the six months ended Mar 31. Its CEO Goh Choon Phong said on Friday that its investment in Air India is “a long game”.
The worst performer among STI constituents was Venture Corporation , which fell 3.1 per cent or S$0.56 to close at S$17.64.
The three local banks ended mixed on Friday.
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DBS rose 0.1 per cent or S$0.07 to S$60.20, while OCBC fell 0.1 per cent or S$0.02 to S$22.93 and UOB finished 0.2 per cent or S$0.07 lower at S$37.30.
Within the iEdge Singapore Next 50 Index, BRC Asia was the top gainer, rising 3.2 per cent or S$0.15 to finish at S$4.80.
Meanwhile, CSE Global was the biggest decliner, falling 9 per cent or S$0.16 to end the session at S$1.61.
Across the broader market, gainers were outnumbered by losers 224 to 431, after 2.3 billion securities worth S$2.5 billion changed hands.
Key regional indices were negative.
Hong Kong’s Hang Seng Index lost 1.6 per cent and Japan’s Nikkei 225 fell 2 per cent. South Korea’s Kospi was down 6.1 per cent and the FTSE Bursa Malaysia KLCI declined 0.3 per cent.
Vincenzo Vedda, global chief investment officer at DWS, said that oil prices remaining above US$110 a barrel for an extended period could “force central banks to adopt a more restrictive monetary policy” even as economic growth slows.
“Further increases in bond yields could put pressure on the high valuations seen in equity markets,” he added.
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