Singapore shares down for fourth session; STI dips 0.2%
[SINGAPORE] Local stocks slipped for the fourth straight session on Wednesday (Jul 30), logging their longest losing streak in five weeks, as second-quarter employment growth slowed from the same period a year ago.
In Q2, total employment rose by 8,400, based on advance figures released by the Ministry of Manpower on Wednesday. This is below the 11,300 increase in the year-ago quarter, as the ministry noted continued signs of softening in some outward-oriented sectors.
DBS senior economist Chua Han Teng warned that labour market resilience may be tested in the second half of the year, as demand from trade-exposed sectors is likely to soften.
In a separate announcement, the Monetary Authority of Singapore kept monetary policy settings unchanged at its quarterly policy meeting, after two consecutive quarters of easing.
But the central bank cautioned that the momentum in global growth “should moderate” over the rest of 2025, as front-loading activity dissipates and previously delayed tariffs are implemented.
The benchmark Straits Times Index (STI) fell 0.2 per cent or 10 points to end at 4,219.41. Across the broader market, losers outnumbered gainers 342 to 222, with around 1.8 billion securities worth S$2.1 billion changing hands.
BT in your inbox
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
Singapore Airlines was the biggest decliner on the STI, falling almost 2 per cent or S$0.14 to S$6.90. Yangzijiang Shipbuilding was the top blue-chip gainer, climbing 3.6 per cent or S$0.09 to S$2.62.
The trio of local banks closed mostly lower. DBS dropped 0.7 per cent or S$0.34 to S$48.26, while OCBC was flat at S$17.04. UOB shed 0.8 per cent or S$0.28 to finish at S$36.52.
Across Asia, markets were mixed as investors continued to watch developments in US-China trade discussions, after the world’s two largest economies agreed to more talks to extend their trade truce.
Hong Kong’s Hang Seng Index was the biggest decliner in the region, falling 1.4 per cent amid a 13 per cent plunge in Li Auto. Japan’s Nikkei 225 closed little changed, dipping 0.05 per cent, while South Korea’s Kospi gained 0.7 per cent.
