Singapore stocks declined on Wednesday—STI fell by 0.4%

SINGAPORE: Singapore stocks declined on Wednesday, Sept 25, even though global markets had risen the previous night.

The Straits Times Index (STI) fell by 0.4%, or 14.52 points, to 3,608.22 by 9:02 am, as reported by The Business Times. In the broader market, 90 stocks gained, while 40 declined after a total of 56.8 million securities valued at S$105 million were traded.

Seatrium led the trading volume. The company’s shares rose by 1.7%, or S$0.03, to S$1.77, with 7.1 million shares exchanged. Property developer Ying Li International Real Estate also saw notable movement, with its stock jumping 16.3%, or S$0.007, to S$0.05.

Jiutian Chemical Group was another active stock, climbing 7.7%, or S$0.002, to S$0.028.

Banking stocks fell during the early session. DBS, OCBC, and UOB all saw declines. DBS shares dropped by 0.4%, or S$0.17, to S$38.66. OCBC retreated by 0.3%, or S$0.04, to S$15.46. UOB had a larger dip, losing 0.8%, or S$0.27, to S$32.72.

On Tuesday, Wall Street stocks reached new record highs as investors overlooked weak consumer data and responded positively to China’s aggressive stimulus plans.

The Dow Jones Industrial Average closed 0.2% higher at a record 42,208.22. The S&P 500 also gained 0.3% to reach 5,732.93, while the Nasdaq Composite advanced 0.6% to 18,074.52.

In Europe, stocks also closed higher on Tuesday, led by gains in China-exposed companies like luxury brands and automakers, following broad stimulus measures introduced by China’s central bank to support its struggling economy.

The pan-European Stoxx 600 index climbed 0.7% to 519.7. /TISG

Read also: Singapore stocks rose on Tuesday—STI climbed 0.2%

Featured image by Depositphotos