Singapore shares dip amid broader regional losses

  • Stock Market News
Singapore shares dip amid broader regional losses
Credit: © Reuters.

Singapore shares closed lower on Tuesday, mirroring a trend seen across most regional markets. The Straits Times Index (STI) fell 0.5 percent or 16.51 points to 3,192.35, with losers outnumbering gainers 364 to 235 across the broader market. Securities worth S$909.1 million changed hands, totaling 1.3 billion.

Among the STI constituents, Frasers Logistics & Commercial Trust emerged as the biggest winner, gaining 0.9 percent or S$0.01 to end the day at S$1.07. The real estate investment trust announced that it will release its full-year results for the period ending September 30 on November 2.

Meanwhile, Sembcorp Industries was the top loser for the day, reversing Monday's gains to fall by 4.6 percent or S$0.24 to S$4.93. Property developer Hongkong Land also ended in the red, with its shares falling by 3.6 per cent or US$0.13 to US$3.45.

Local banks mostly retreated on Tuesday as well, with DBS Bank falling by 0.2 percent or S$0.06 to S$33.53 and UOB declining by 0.3 percent or S$0.07 to S$28.27. OCBC Bank's shares remained flat at S$12.80.

Regional markets largely followed suit with Hong Kong’s Hang Seng Index losing 2.7 percent after returning from a holiday, and Japan’s Nikkei 225 shedding 1.6 percent. The FTSE Bursa Malaysia KLCI edged up slightly by 0.1 percent while Australia's S&P/ASX 200 lost 1.3 percent after the country’s central bank held rates at 4.1 percent.

Barclays (LON: BARC ) analysts expect the Reserve Bank of Australia to hike rates once more in November, following another quarterly inflation print and an updated set of forecasts. South Korean and Chinese markets remained closed for the holidays.

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