Singapore shares end Friday in the red amid mixed regional showing; STI down 0.3%

Local stocks ended lower on Friday (Jun 20), amid a mixed regional performance and growing concerns over a possible US military strike on Iran.

The benchmark Straits Times Index (STI) fell 0.3 per cent or 10.75 points to 3,883.43.

Across the broader market, advancers beat decliners 253 to 203, with 1.3 billion securities worth S$2.2 billion changing hands.

While the news that the US is giving itself two weeks to decide whether to intervene in Iran has slightly eased tensions, the looming uncertainties still pushed US and European equities lower.

“The worsening global geopolitical weather keeps investors in a cautious mode, and will likely prevent them from taking too much risk before the weekend,” said Ipek Ozkardeskaya, senior analyst at Swissquote Bank.

Amid this geopolitical uncertainty, key regional indices in Asia-Pacific were mixed.

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Japan’s Nikkei 225 and Australia’s ASX 200 both slipped by 0.2 per cent. Meanwhile, South Korea’s Kospi Composite Index climbed 1.5 per cent, Hong Kong’s Hang Seng Index rose 1.3 per cent and the Bursa Malaysia Kuala Lumpur Composite Index edged up by 0.1 per cent.

The Hang Seng Index is now nearly back to its March 2025 highs following the announcement of the trade war truce, noted Kai Wang, Asia equity market strategist at Morningstar.

He highlighted that markets were volatile from January to April due to tariff concerns and suggested that the second half of the year will highly be dependent on tariffs again, but “tariffs may finally rear its ugly head”.

“We could see their consequences and whether earnings are under pressure as there are still headwinds to consumer confidence,” he added.

The top gainer on the STI was Hong Kong-based conglomerate Jardine Cycle & Carriage (C&C), which gained 3.3 per cent or S$0.77 to close at S$24.45. The biggest decliner among the constituents was Frasers Logistics and Commercial Trust (FLCT), which shed 2.4 per cent or S$0.02 to S$0.815.

The three local banks ended mixed. UOB edged up 0.5 per cent or S$0.18 to S$34.89, OCBC fell 0.6 per cent or S$0.09 to S$15.90, while DBS slipped 0.1 per cent or S$0.05 to S$43.88.