Singapore stocks fall on Monday; STI down 0.2%
Sats leads the gainers on the blue-chip index
Singapore stocks closed lower on Monday, September 7, with the Straits Times Index (STI) falling 0.2 percent or 9.68 points to reach 5,792.28. Among the blue-chip index gainers, Sats led the rise, increasing 2.3 percent or S$0.09 to S$3.97. The largest loser was DFI Retail Group, which dropped 1.4 percent or US$0.05 to US$3.57. All major local banks ended in the red, with DBS losing 0.2 percent or S$0.18 to close at S$78.47, OCBC falling 1.2 percent or S$0.39 to S$31.88, and UOB down 0.6 percent or S$0.26 to S$41.75.
In the iEdge Singapore Next 50 Index, Frencken Group was the top performer, up 4.3 percent or S$0.10 to S$2.40, while Yangzijiang Financial was the biggest loser, falling 2.4 percent or S$0.005 to S$0.20. Overall, 263 stocks gained while 258 lost in the broader market, with 1.3 billion securities valued at S$1.6 billion traded. Addvalue Tech was the most actively traded stock, with 157.6 million shares exchanged, while DBS led in terms of value, with 2.5 million shares traded worth S$195 million.
Global markets closed largely unchanged, but investors faced challenging macroeconomic conditions due to surging Brent crude to US$96 a barrel and rising US Treasury yields following stronger-than-expected U.S. payroll data, reigniting worries of another U.S. Federal Reserve rate hike. Industry analysts noted that while artificial intelligence and semiconductors continued to support equities, higher oil prices, climbing yields, and renewed tightening risks were shifting investor focus towards earnings visibility, cash-flow generation, and pricing power.
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.
