STI ends 0.5% lower ahead of Trump-Xi summit

[SINGAPORE] Singapore stocks ended lower on Thursday (Sep 24), as regional markets turned in a mixed performance ahead of a closely watched meeting between US President Donald Trump and Chinese President Xi Jinping in Washington.

The benchmark Straits Times Index (STI) lost 0.5 per cent or 26.54 points to finish at 5,683.37.

Venture Corporation led the gainers on the blue-chip index, rising 0.7 per cent or S$0.12 to S$16.77.

City Developments Ltd was the worst-performing STI constituent, falling 2.4 per cent or S$0.20 to S$8.22.

The three local banks ended lower. DBS lost 0.3 per cent or S$0.21 to S$77.48, OCBC fell 0.2 per cent or S$0.06 to S$31.59 and UOB declined 0.8 per cent or S$0.34 to S$42.50.

Within the iEdge Singapore Next 50 Index, First Resources was the top gainer, climbing 5 per cent or S$0.22 to S$4.66. AEM was the biggest loser, falling 3.6 per cent or S$0.36 to S$9.60.

Across the broader market, losers outnumbered gainers 300 to 231, with 1.1 billion securities worth S$1.8 billion changing hands.

Key regional indices were mixed. Hong Kong’s Hang Seng Index lost 0.3 per cent and the FTSE Bursa Malaysia KLCI fell 0.2 per cent, and Japan’s Nikkei 225 gained 0.8 per cent.

In Washington, Trump was due to host Xi at the White House on Thursday for the leaders’ second meeting in 2026 and Xi’s first visit to Washington since 2015.

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The summit comes as the US and China seek to keep relations stable despite disputes spanning trade, technology and Taiwan.

The two sides have agreed to extend their trade truce until Jan 10, 2027. Discussions at the summit could also touch on tariffs, artificial intelligence and military-to-military dialogue.

Xi, who arrived in Washington on Wednesday, called for a more stable relationship between the world’s two largest economies. Major breakthroughs are not widely expected, with the meeting seen as focused largely on maintaining stability and managing areas of rivalry.

This article was written with the assistance of AI and reviewed by a reporter