Singapore stocks buck regional trend; STI down 0.4%

All three local banks end lower; Genting Singapore is the most actively traded counter on the STI for the second day running

Local shares ended Thursday (Oct 8) lower, even as markets across the region mostly ended higher.

The benchmark Straits Times Index (STI) shed 0.4 per cent or 15.8 points to close at 4,440.50.

Property developer Hongkong Land was the index’s biggest decliner, falling 2.6 per cent or US$0.17 to S$6.37.

Tech company Venture was the day’s top blue-chip gainer, rising 1.7 per cent or S$0.24 to S$14.48.

All three local banks ended lower on Thursday. DBS lost 0.7 per cent or S$0.36 to finish at S$53.91. OCBC fell 0.4 per cent or S$0.06 to S$16.86, and UOB was down 0.5 per cent or S$0.17 at S$35.33.

Casino operator Genting Singapore remained the most actively traded counter on the STI by volume for a second day running, with 49.5 million units worth S$35.7 million traded. The counter rose 0.7 per cent or S$0.005 to S$0.725.

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Across the broader market, advancers outnumbered decliners 336 to 257, with 1.8 billion securities worth S$1.5 billion traded.

Key indices in the region were mostly up. Japan’s Nikkei 225 was up 1.8 per cent; Australia’s ASX 200 rose 0.3 per cent. FTSE Bursa Malaysia KLCI Index gained 0.1 per cent. Hong Kong’s Hang Seng slid 0.3 per cent.