Singapore shares buck regional trend; STI slides 0.1%

SINGAPORE shares ended in the red on Friday (Feb 14), after hitting a record high earlier in the week.

The benchmark Straits Times Index (STI) fell 0.1 per cent or 5.08 points to 3,877.50, even as most regional exchanges ended higher.

Across the broader market in Singapore, advancers outnumbered decliners 349 to 219, as 1.5 billion shares worth S$1.4 billion were traded over the course of the day.

The biggest decliner on the STI was the Singapore Exchange (SGX). The counter, which was trading ex-dividend, slid 5.8 per cent or S$0.78 to S$12.69.

Its decline indicated dampened optimism among investors a day after the Monetary Authority of Singapore revealed its initial proposals to revive the local equity market. Citi Research downgraded its call on SGX to “sell” on Friday, as it expects the recent optimism priced into the counter’s valuation to unwind.

The biggest gainer on the index was property developer Hongkong Land, which climbed 4.1 per cent or US$0.17 to close at US$4.35.

Offshore and marine company Seatrium was the most actively traded counter by volume, with 51.9 million units worth S$132 million traded. The counter rose 1.2 per cent or S$0.03 to S$2.58.

Most regional bourses saw gains. Australia’s ASX 200 climbed 0.2 per cent as did the Shanghai Composite Index, which rose 0.4 per cent. South Korea’s Kospi was up 0.3 per cent.

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