Singapore shares edge up amid mixed regional showing; STI gains 0.1%
DFI Retail Group leads gainers on the blue-chip index
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[SINGAPORE] Singapore stocks edged up on Thursday (Sep 3).
The benchmark Straits Times Index (STI) was little changed, gaining 0.1 per cent or 3.6 points to finish at 5,747.71.
DFI Retail Group led the gainers on Singapore’s blue-chip index, rising 3.4 per cent or US$0.12 to US$3.64.
The worst performer among STI constituents was Mapletree Pan Asia Commercial Trust , which fell 2.4 per cent or S$0.03 to S$1.22.
The three local banks ended mixed. DBS rose 0.5 per cent or S$0.35 to S$77.95 and OCBC was up 0.2 per cent or S$0.07 at S$31.92, while UOB finished 0.1 per cent or S$0.03 lower at S$41.74.
Within the iEdge Singapore Next 50 Index, Pan-United Corp was the top gainer, rising 4.4 per cent or S$0.07 to S$1.67. UltraGreen.ai was the biggest loser, declining 2 per cent or US$0.015 to US$0.72.
Across the broader market, losers beat gainers 285 to 256, after 1.3 billion securities worth S$1.8 billion changed hands.
Addvalue Tech was the most actively traded stock with 119.1 million shares changing hands. DBS was the most actively traded stock in terms of value, with 4.3 million shares worth S$335.9 million traded.
Key regional indices were mixed. Hong Kong’s Hang Seng Index lost 0.4 per cent and Japan’s Nikkei 225 fell 0.2 per cent. South Korea’s Kospi was up 0.3 per cent and the FTSE Bursa Malaysia KLCI advanced 0.4 per cent.
The Nikkei closed at its lowest level in a month following four consecutive days of losses, as uncertainty over interest rates and currencies kept investors away from risk assets.
The yen spiked 1.2 per cent against the US dollar on the central bank’s hawkish tilt, prompting declines in 30-year Japanese government bond yields and artificial intelligence-related shares on the country’s benchmark index.
Nigel Green, CEO of global financial advisory deVere Group, said that the yen’s sudden rise could send shocks across global equity markets.
“A shock in one currency pair can pull emerging-market bonds, multinational equities and (US) dollar-denominated assets in the same direction at the same time, turning what looked like diversification into one large, concentrated bet,” he added.
This article was written with the assistance of AI and reviewed by a reporter
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