Singapore shares continue to falter on Thursday; STI falls 0.1%
DFI Retail Group leads the gainers on the blue-chip index
Singapore's stock market saw a continued decline on Thursday, Oct 1, with the Straits Times Index (STI) dropping 0.1% or 8.21 points to conclude at 5,667.67. DFI Retail Group emerged as the top gainer among the blue-chip index, surging 6.6% to US$3.40. City Developments Ltd posted the largest loss, decreasing 3.7% to S$7.12. Among Singapore's three local banks, UOB rose 1.2% to S$43.34, DBS fell 0.2% to S$77.36, and OCBC declined 1.4% to S$31.55.
In the iEdge Singapore Next 50 Index, AEM was the leading gain, up 3.8% to S$10.17, while UltraGreen.ai was the biggest loser, dropping 3.4% to US$0.57. The broader market saw more losers than gainers, with 298 stocks falling and 177 rising. Within the day's trading volume, Addvalue Tech saw the highest activity with 123.9 million shares exchanged, while DBS, in terms of value, saw 5.6 million shares changing hands worth S$430.7 million.
The performance of regional indices was mixed, with Japan's Nikkei 225 up 3.3% and South Korea's Kospi rising 2%. The FTSE Bursa Malaysia KLCI, however, dropped 1.3%. Senior economist Jose Torres from Interactive Brokers attributed the 30-year US Treasury yields to their highest levels since 2022, citing unfavorable seasonal dynamics and high corporate issuance as factors.
Despite cheaper oil from increased Saudi Arabian production, investor interest in downside hedges has increased as nine of the 11 main equity sectors declined.
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.
