STI loses speed, loses 0.45% with mixed regional markets, Company and Market News and Top Stories
SINGAPORE (BUSINESS TIMES) – Singapore stocks opened higher on Monday (May 31), following Wall Street gains last Friday. But the top-notch Straits Times Index (STI) gauge quickly lost strength and drifted lower, ending the last day of trading in May by losing 0.45 percent to 3,164.28 points.
For the month in which investors marry “sell in May and go,” the benchmark was 1.68 percent lower month-over-month.
Catalonia-listed Union Gas rose 8.57% to $ 0.95 on Monday as “unusual price movements” prompted a query from the exchange operator, Singapore Exchange (SGX). The Singapore petroleum supplier replied that it was not aware of any unannounced information that could explain the price spike.
Sembcorp Marine, with a trading volume of 90.7 million shares, was the most active counter. Shares of the offshore and maritime player were flat at $ 0.20 at market close.
The local banking trio traded lower with DBS Bank losing 1.25 percent to $ 30.03, OCBC Bank 1.12 percent lower to $ 12.36 and UOB down 0.80 percent to 26, $ 07.
Singapore Monetary Authority data on Monday showed total business lending in Singapore was almost flat at $ 427.69 billion in April after four consecutive months of steady growth.
The winners edged the losers 265-224 in the larger market, with 1.63 billion securities worth $ 1.2 billion traded.
Elsewhere in Asia, markets have been mixed as the pandemic continues to plague some countries.
The Australian S & P / ASX 200 index slipped 0.25%, the Japanese Nikkei 225 index by 0.99% and the FTSE Bursa Malaysia Kuala Lumpur index by 0.68%.
The Shanghai Composite Index rose 0.41% and the Hong Kong Hang Seng Index edged up 0.09%, while South Korea’s Kospi index closed up 0.48 %.