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Singapore stocks end lower on Monday amid mixed regional trading; STI down 0.3%

by Riah Marton
in Real Estate
Singapore stocks end lower on Monday amid mixed regional trading; STI down 0.3%
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SINGAPORE shares closed lower on Monday (Mar 11) amid a mixed performance across the region.

The benchmark Straits Times Index (STI) fell 0.3 per cent or 8.67 points to close at 3,138.42.

Elsewhere in the region, major indices in Australia, Japan and South Korea were also in the red, falling between 0.8 and 2.2 per cent. However, stocks in Hong Kong, Shanghai and Kuala Lumpur finished in the black, rising between 0.3 and 1.4 per cent.

“The lead-up to the upcoming US consumer price index has seemingly struck a more cautious tone across the region, while risk sentiment took its cue from the downbeat handover from Wall Street last Friday,” said IG market analyst Yeap Jun Rong.

The US inflation report for February will be released on Mar 12.

Across the broader market on the local bourse, gainers outnumbered losers 292 to 250, after 1.2 billion securities worth S$765.6 million were traded.

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Shares of City Developments Limited were the top index gainer, rising 3.1 per cent to close at S$5.93.

The property developer said last Friday that it has initiated a share buyback programme, as the counter is trading “significantly below its intrinsic value despite the company’s strong fundamentals”.

Meanwhile, Emperador was the top STI decliner, shedding 3 per cent to S$0.485. FTSE Russell announced last month that Emperador will be removed from the STI at the start of trading next week, with Frasers Centrepoint Trust (FCT) replacing it.

Units of FCT closed unchanged on Monday at S$2.20, after 2.1 million units worth S$4.7 million changed hands. SGX market strategist Geoff Howie noted that FCT is one of 16 stocks on the local market that has booked net inflows from both institutional and retail investors over the past 10 weeks.



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Tags: MixedMondayRegionalSingaporeSTIStocksTrading
Riah Marton

Riah Marton

I'm Riah Marton, a dynamic journalist for Forbes40under40. I specialize in profiling emerging leaders and innovators, bringing their stories to life with compelling storytelling and keen analysis. I am dedicated to spotlighting tomorrow's influential figures.

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