Singapore stocks fall, bucking regional gains; STI down 0.2%
Sembcorp Industries leads the gainers on the blue-chip index
On Wednesday (Aug 26), Singapore's stocks closed lower, despite regional indices rising. The Straits Times Index (STI) fell 0.2% or 14.09 points, closing at 5,721.59. Sembcorp Industries was among the top gainers on Singapore's blue-chip index, increasing 1.2% or S$0.07 to S$6.12. The STI's biggest decliner was China Aviation Oil, which plummeted 4.1% or S$0.06 to S$1.42.
Most stocks in the broader market outperformed, with 281 gainers to 244 losers. A total of 938.6 million securities valued at S$1.6 billion exchanged hands. Addvalue Tech saw the highest trading volume, with 77.1 million shares changing hands, rising 2.1% or S$0.003 to S$0.149. Regional indices saw gains: Hong Kong's Hang Seng Index rose 0.6%, South Korea's Kospi gained 1%, Japan's Nikkei 225 was up 0.6%, and the FTSE Bursa Malaysia KLCI advanced 0.7%.
Analyst Vishnu Varathan from Mizuho Securities cautioned that upcoming US fiscal consolidation plans could disappoint global markets, as sceptical markets set higher standards for fiscal consolidation.
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- Singapore stocks fall, bucking regional gains; STI down 0.2% businesstimes.com.sg
