Singapore shares fall as STI sheds 0.6% on bank losses
UOL Group leads the gainers on the blue-chip index
On August 12, Singapore's stocks closed lower, with the Straits Times Index (STI) slipping 0.6% to 5,720.75 points. UOL Group emerged as the top gainers on the blue-chip index, surging 2.4% to S$10.17. DBS, however, was the worst performer, dropping 1.5% to S$75.85. Other local banks, OCBC and UOB, also ended the day down 0.5% each.
Within the iEdge Singapore Next 50 Index, PC Partner led the gains with a 6.4% rise, while Yangzijiang Maritime suffered the biggest loss at 8.5%. Across the broader market, winners fell short of losers 281 to 276, with a total trading volume of 1.2 billion securities valued at S$2.2 billion. International Cement was the busiest traded stock, while DBS dominated in terms of value, with 5.1 million shares worth S$390.8 million changing hands.
Regional indices varied, with Hong Kong's Hang Seng Index down 0.8%, Japan's Nikkei 225 up 0.8%, South Korea's Kospi up 3.7%, and Malaysia's KLCI advancing 0.6%. Analyst Stephen Innes noted that markets have shifted from anticipating negative news to becoming more responsive to relief. The primary concern now is the potential for strong growth to elevate long-term bond yields to levels that could strain market comfort.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
