Meanwhile, the iEdge Singapore Next 50 Index rises 0.1% or 1.61 points to 1,448.61
[SINGAPORE] Singapore shares ended slightly lower on Wednesday (Dec 24) before investors took a break for Christmas, even as Wall Street closed higher on the back of a strong growth forecast for the US.
The benchmark Straits Times Index (STI) slipped 0.06 per cent or 2.63 points to close at 4,636.34 on the shorter trading day of Christmas Eve. Meanwhile, the iEdge Singapore Next 50 Index rose 0.1 per cent or 1.61 points to 1,448.61.
Frasers Logistics and Commercial Trust was the top blue-chip gainer, rising 1 per cent or S$0.01 to S$0.995.
ST Engineering was the largest decliner on the STI, falling 1.3 per cent or S$0.11 to S$8.35.
Casino operator Genting Singapore was the most actively traded counter on the STI by volume, with 20.8 million units worth S$15.1 million changing hands. The counter closed flat at S$0.725.
Across the trio of local banks, only UOB , finished higher on Wednesday. The counter rose 0.1 per cent or S$0.04 to S$35.03.
OCBC fell 0.6 per cent or S$0.12 to S$19.78 and DBS slipped 0.1 per cent or S$0.04 to S$56.30.
Across the broader market, advancers outnumbered decliners 235 to 167, after 477.8 million securities worth S$496.3 million changed hands.
In the US, the S&P 500 notched a new record, while the Nasdaq and blue-chip Dow Jones Industrial Average extended their gains overnight.
Vishnu Varathan, head of macro research for Asia excluding Japan at Mizuho Securities, said that markets were “risk on” despite the fractionally softer US dollar. The US recorded economic growth of 4.3 per cent in Q3, beating analyst expectations of 3.3 per cent growth – this hit the “sweet spot” for investors’ risk appetite.
The forward-looking promise of further interest rate cuts by the US Federal Reserve also fuelled the rally, he added.
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