Singapore shares decline amid mixed regional showing; STI down 0.1%

SINGAPORE stocks fell into the red on Tuesday (Oct 1), even asmost regional markets ended mixed.

The benchmark Straits Times Index (STI) fell 0.1 per cent or 4.33 points to 3,580.96.

Across the broader market, decliners outnumbered advancers 210 to 206, with 1.4 billion shares worth S$1.5 billion having been traded throughout the day.

Consumer goods conglomerate Jardine Matheson was the biggest gainer on the STI, rising 2.8 per cent or US$1.10 to close at US$40.16.

Agribusiness group Wilmar saw the biggest drop on the index. The counter slid 3 per cent or S$0.10 to close at S$3.25.

Yangzijiang Shipbuilding was the most actively traded counter by volume, with 35.3 million shares worth S$87.5 million traded. The counter rose 1.6 per cent or S$0.04 to close at S$2.49.

BT in your inbox

Start and end each day with the latest news stories and analyses delivered straight to your inbox.

Across the region,markets ended the day mixed.

Malaysia’s Kuala Lumpur Composite Index was up 0.5 per cent as was Indonesia’s IDX Composite Index, which was up 1.5 per cent.Meanwhile Australia’s ASX 200 fell 0.7 per cent.

Japan’s Nikkei also rose 1.9 per cent on Tuesday, the same day Japan’s parliament elected Shigeru Ishiba as the country’s prime minister.

Yeap Jun Rong, market strategist at online trading platform IG, said that the outlook for Japanese equities have become uncertain in light of Ishiba’s appointment.

Yeap said that Ishiba will likely support the Bank of Japan’s hiking cycle while advocating for fiscal discipline. This means that there will likely be tighter fiscal spending ahead for Japan, said Yeap.

Mainland China, Hong Kong and the South Korean markets were all closed on Tuesday due to a public holiday.