Singapore shares close flattish amid mixed regional showing; STI down 0.01%
City Developments leads gainers on blue-chip index
Singapore's blue-chip index closed flat on Thursday, Aug 13, as regional indices delivered a mixed performance. The Straits Times Index (STI) fell 0.01% to 5,720.05. City Developments Ltd led the gainers with a 4.3% increase to S$8.20. UOL Group was the worst performer among STI constituents, dropping 6.1% to S$9.55. Among local banks, DBS rose 0.9% to S$76.50, while OCBC gained 1% to S$31.50, and UOB fell 0.6% to S$41.70.
Within the iEdge Singapore Next 50 Index, AEM surged 14% to S$10.98, while China Aviation Oil plummeted 9.7% to S$1.58. In the broader market, losers outnumbered gainers 314 to 255, with 1.4 billion securities worth S$2.9 billion changing hands. Addvalue Tech was the most actively traded stock, while DBS led in terms of value, with 5.2 million shares trading worth S$394.3 million.
Regional indices were mixed, with Japan’s Nikkei 225 up 1.2% and South Korea’s Kospi rising 3.6%. Hong Kong's Hang Seng Index fell 0.2%, and the FTSE Bursa Malaysia KLCI dropped 0.4%. Stephen Innes, managing partner at SPI Asset Management, expressed uncertainty about the market's calm, citing intervention in the yen and unresolved Iran situation as factors that add policy risk.
He noted that while fundamentals have been solid, there remain too many uncertainties for the market to feel completely at ease.
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