Singapore shares close lower in tandem with Wall Street retreat; STI slides 0.3%

Across the broader market in the city-state, decliners beat gainers 371 to 250 as 1.8 billion securities valued at S$1.4 billion are traded

Singapore shares closed lower on Friday (Oct 10), after three major Wall Street indexes retreated overnight.

Blue-chip barometer Straits Times Index (STI) was a sea of red, dipping 0.3 per cent or 13.44 points to 4,427.06, with Thai Beverage and Seatrium bookending the 30-stock tally as the top and worst performers, respectively.

Thai Beverage closed up 2.1 per cent or S$0.01 at S$0.49, while Seatrium plunged 6.6 per cent or S$0.16 to S$2.28. The marine engineering company had announced before market open that a US$475 million contract had been aborted.

Real estate agency PropNex closed at S$2.59 – a record high – after its shares rose S$0.11 or 4.4 per cent.

Addvalue Technologies was the top actively traded stock, with 83.4 million shares transacted by the time the counter closed 6.8 per cent or S$0.003 higher at S$0.047 – its 52-week high.

The banking counters had a mixed showing: OCBC inched up 0.1 per cent or S$0.02 to S$16.88, UOB was flat at S$35.33, while DBS declined 0.1 per cent or S$0.06 to S$53.85.

Decliners beat gainers across the broader market 371 to 250, as 1.8 billion securities valued at S$1.4 billion were traded.

Overnight, the Dow Jones Industrial Average dropped 0.5 per cent to 46,358.42, the S&P 500 slid 0.3 per cent to 6,735.11, and the Nasdaq Composite was 0.1 per cent lower at 23,024.62, amid cautious investor sentiment over concerns of overheating in the market.

The STI closed 0.3 per cent up week on week.