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

Singapore stocks slipped on Tuesday (Oct 27) as regional indices delivered a mixed performance. The Straits Times Index (STI) declined by 0.3 percent or 18.88 points to close at 5,397.03 points. DFI Retail Group was the top gainers among blue-chip stocks, surging 5 percent to reach US$3.55 per share. Conversely, Thai Beverage experienced the steepest decline, dropping 3.4 percent to S$0.425.

Among local banks, OCBC rose by 0.04 percent to S$28.96, while UOB increased by 0.2 percent to S$41.37, but DBS ended 0.4 percent lower at S$73.92. The iEdge Singapore Next 50 Index saw UOB Kay Hian as the leading performer, up by 5.7 percent to S$3.16, whereas Aims Apac Reit was the biggest decliner, falling 3.6 percent to S$1.35.

In the broader market, 933.4 million securities were traded, worth S$1.4 billion, with 250 winners to 257 losers. Among actively traded stocks, Addvalue Tech led in volume, with 71.6 million shares exchanged, while DBS was the most valuable, with 3.3 million shares of S$245.8 million changing hands. Notably, Japan's Nikkei 225 climbed 1.7 percent, South Korea's Kospi rose 3.1 percent, and the FTSE Bursa Malaysia KLCI increased 0.5 percent.

In contrast, Hong Kong's Hang Seng Index fell 0.7 percent and the Shanghai Composite Index dropped 1.3 percent. Analyst Richard Tang from Julius Baer commented on the recent downturn in Chinese equities, attributing it to China's recent tightening of capital and tax policies, as well as pessimistic economic growth expectations and sluggish property investments.