STI down by 1.24 points or 0.03% at 3,794.92; Singtel is top gainer on benchmark index
SINGAPORE stocks slipped into slightly negative territory on Monday (Dec 9), while other Asian markets closed mixed following China’s easing of its monetary policy stance.
The Straits Times Index (STI) inched down by 1.24 points or 0.03 per cent to 3,794.92. Across the broader market, gainers outnumbered losers 286 to 269 after about one billion shares worth S$915 million changed hands.
On the STI, Singtel was the top gainer, up 1.3 per cent or S$0.04 at S$3.07. Jardine Matheson was the biggest loser, down 3.4 per cent or US$1.58 at US$44.48.
Banking stocks closed mixed. DBS slipped 0.1 per cent or S$0.03 to S$43.65. UOB dropped 0.2 per cent or S$0.08 to S$36.80, while OCBC climbed 0.9 per cent or S$0.14 to S$16.54.
Hong Kong shares jumped, while bourses in mainland China were largely down after the country’s top leaders said a “moderately loose” monetary policy in 2025 was planned, and that they were committed to more fiscal spending. The Hang Seng Index was up 2.8 per cent, while the Shenzhen Stock Exchange Composite Index was down 0.4 per cent.
China’s consumer price index slowed for the third consecutive month to 0.2 per cent year on year in November. UOB economist Ho Woei Chen noted that the price outlook remains weak, and that the Chinese central bank is expected to keep its easing bias.
The producer price index deflation eased to a negative 2.5 per cent year on year in November, while rising 0.1 per cent on the month for the first time in six months. “This (rise) was attributed to the effects of the government’s existing and incremental policies which boosted demand for industrial products,” said Ho.
Other markets elsewhere in the Asia-Pacific were mixed. Japan’s Nikkei 225 was up 0.2 per cent, while South Korea’s Kospi index was down 2.8 per cent.
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