Singapore stocks continue losing steak on Friday, STI falls 0.6 per cent

Singapore's stock market continued its downward trend on Friday, with the Straits Times Index (STI) slipping 0.6 percent to close at 5,634.82 points. Leading the gainers was Thai Beverage, which rose 1.2 percent to S$0.43 per share. Meanwhile, DFI Retail Group suffered the largest decline, falling 8.8 percent to US$3.10. Among local banks, OCBC gained 0.4 percent, DBS fell 0.2 percent, and UOB dropped 0.5 percent.

The iEdge Singapore Next 50 Index also experienced a slight decline of 0.1 percent. Overall, gainers lagged behind losers 223 to 335 in the broader market, with a total of 1.3 billion securities changing hands worth S$2.3 billion. Hiap Seng Ind was the most actively traded stock, while DBS saw the highest trading volume in terms of value.

Key regional indices showed mixed performance, including Hong Kong's Hang Seng Index down 2.6 percent, Japan's Nikkei 225 falling 0.9 percent, South Korea's Kospi up 0.5 percent, and the FTSE Bursa Malaysia KLCI remaining relatively stable. Factors contributing to the market's downward pressure included a rise in US equities due to increased prices-paid figures from the US Purchasing Managers Index, as well as rising US Treasury yields and a stronger US dollar, which negatively impacted Wall Street's sentiment.

Political tensions, such as President Trump's threat of increased military action against Iran, added to the geopolitical concerns that further pressured the market.