Singapore shares drop in tandem with regional bourses; STI down 0.1%
Across the broader market, gainers lag losers 224 to 338, after 1.1 billion securities change hands
Singapore's benchmark Straits Times Index (STI) experienced a slight decline on Thursday, November 12, as regional bourses followed a downward trend. The STI shed 0.1 percent, or 6.96 points, to settle at 5,282.7 points. Among the gainers, S$1.1 billion worth of securities changed hands, with Sats leading the pack, up 4.3 percent or S$0.17 to S$4.17.
The air cargo handler and airline caterer reported a 2.8 percent increase in net profit for its second quarter, ending on September 30, at S$81.1 million. However, City Developments Ltd (CDL) was the worst performer, dropping 6.7 percent or S$0.48 to S$6.64, hitting a one-year low after warning about "significantly weaker" performance for its second half.
The decline was attributed to adverse foreign-exchange movements and potential property impairment. The three local banks - DBS, UOB, and OCBC - ended mixed, with DBS up 0.04 percent, UOB up 0.5 percent, and OCBC down 0.5 percent. Within the iEdge Singapore Next 50 Index, NTT DC Reit was the top gainer, rising 3.3 percent, while PC Partner was the biggest decliner, falling 8.8 percent.
Across the broader market, gainers lagged losers 224 to 338, with 1.1 billion securities valued at S$1.7 billion changing hands. The decline in regional markets was mirrored by Hong Kong's Hang Seng Index, falling 1.3 percent, Japan's Nikkei 225 dropping 0.7 percent, South Korea's Kospi declining 0.6 percent, and the FTSE Bursa Malaysia KLCI falling 0.6 percent.
Written by urgent.news from The Business Times - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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