STI closes flat amid a mixed regional showing, overnight Wall Street declines

Gainers beat decliners 273 to 205 across the broader market, with 982.2 million of securities valued at S$1.2 billion changing hands

The Straits Times Index (STI) finished at 3,882.55 points, a mere 0.05 point lower on Wednesday (May 21), amid a mixed regional showing and after overnight declines on Wall Street as investors took profit.

Little change notwithstanding in the blue-chip barometer, the Singapore broader market logged more gainers than decliners. Gainers beat decliners 273 to 205 across the broader market, with 982.2 million of securities valued at S$1.2 billion transacted.

Singapore Airlines’ maintenance, repair and overhaul arm,SIA Engineering, shares reached a 52-week high of S$2.55, up 4.5 per cent or S$0.11, a day after it announced signing S$1.3 billion agreements to provide services for the full service carrier and budget airline in the group.

While Bukit Sembawang shares reached its highest in 52 weeks as well, at S$3.89 – S$0.12 or 3.2 per cent higher – there were no announcements from the property player that could have explained the share price performance.

The banking trio had a mixed showing, DBS were S$0.25 or 0.6 per cent lower at S$44.13 while OCBC and UOB were unchanged at S$16.21 and S$35.40, respectively.

Elsewhere in Asia, Malaysia and Japan’s key indexes closed lower – FTSE Bursa KLCI dipped 0.3 per cent and Nikkei 225 was down 0.6 per cent, whereas other Asia’s major indexes rose with South Korea’s Kospi among the top performing with 0.9 per cent rise.

Nasdaq Composite Index and S&P 500 both slid 0.4 per cent overnight, and the Dow Jones Industrial Average ended 0.3 per cent lower.

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