Singapore shares fall as local banks end mixed; STI down 0.1%
Hongkong Land leads gainers on the blue-chip index
Singapore stocks slipped on Wednesday, with the Straits Times Index (STI) ending 0.1% lower at 5,635.41 points. Hongkong Land was among the top gainers, surging 1.1% to US$8.37. DFI Retail Group was the worst performer, dropping 3.1% to US$3.45. The three local banks had a mixed performance; DBS rose 0.1% to S$76.80, OCBC was up 0.6% to S$31.18, while UOB declined 0.3% to S$41.21.
In the iEdge Singapore Next 50 Index, First Resources was the biggest winner, gaining 4.8% to S$5.06, while UOB Kay Hian was the top loser, falling 2% to S$3.86. Overall, more stocks in the broader market gained than lost, with 1.2 billion securities worth S$1.7 billion traded. Oceanus was the most actively traded stock, with 133.5 million shares changing hands, while DBS saw the highest value turnover, with 2.8 million shares worth S$217.8 million traded.
Regional indices were also positive, with Hong Kong’s Hang Seng Index up 0.2%, Japan’s Nikkei 225 up 0.7%, and South Korea’s Kospi surging 1.4%. The article mentions that the US Federal Reserve's potential interest rate hike, for the first time in over three years, could impact markets, with CEO Nigel Green suggesting that not raising rates could be riskier.
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