Singapore shares fall amid mixed regional showing; STI drops 0.3%

On Tuesday, October 27, Singapore's stock market saw a decline as regional indices delivered a mixed performance. The Straits Times Index (STI) fell 0.3%, or 18.88 points, to close at 5,397.03. Among the top gainers was DFI Retail Group, which surged 5% to US$3.55. Conversely, Thai Beverage experienced the steepest decline, dropping 3.4% to S$0.425.

The three local banks had a mixed finish, with OCBC up 0.04% and UOB and DBS both down by 0.2% and 0.4% respectively. In the iEdge Singapore Next 50 Index, UOB Kay Hian was the top performer, gaining 5.7%, while Aims Apac Reit saw the biggest drop at 3.6%. Over 933.4 million securities were traded, worth S$1.4 billion, with Addvalue Tech leading in terms of volume traded, and DBS leading in terms of value traded, at S$245.8 million.

Internationally, Japan's Nikkei 225 climbed 1.7%, South Korea's Kospi increased by 3.1%, and the FTSE Bursa Malaysia KLCI rose 0.5%. However, Hong Kong's Hang Seng Index slipped 0.7% and the Shanghai Composite Index declined 1.3%. Analyst Richard Tang attributed the sharp drop in Chinese equities to China's new capital and tax policies, pessimistic economic growth expectations, and poor earnings from notable large-cap stocks.