Genting Singapore hits one-year low amid broader fall of Singapore stocks; STI down 1%
Across the broader market, losers beat gainers 343 to 240, after 1.1 billion securities worth S$1.9 billion change hands
Singapore stocks closed lower on Friday, November 13, with the Straits Times Index (STI) falling 1% or 50.86 points to close at 5,231.84. Frasers Logistics & Commercial Trust was the top performer, gaining 1.1% or S$0.01 to reach S$0.89. Genting Singapore, on the other hand, reached a one-year low as the integrated resort operator reported a 42.2% plunge in net profit to S$54.7 million for the third quarter ended September 30.
The stock saw a 5.7% decline or S$0.035, dropping to S$0.575. Other local banks also performed poorly, with DBS losing 1.5% at S$69.90, OCBC falling 0.5% at S$28.53, and UOB down 0.1% at S$37.75. Within the iEdge Singapore Next 50 Index, First Resources led gains with a 6.5% increase or S$0.18 to S$2.97, while Food Empire posted the biggest decline at 7.3% or S$0.13 to S$1.66.
Despite this, the group reported an 11.7% revenue rise to a record US$476.5 million for the nine months ending September 30. In the broader market, losers outnumbered gainers 343 to 240, with 1.1 billion securities changing hands worth S$1.9 billion. Other regional indices saw mixed performances, with Hong Kong's Hang Seng Index down 1.5%, South Korea's Kospi decreasing by 1%, and the FTSE Bursa Malaysia KLCI falling 0.2%. In contrast, Japan's Nikkei 225 rose 0.5%.
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.
