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Singapore stocks retreat as US-Iran strikes unsettle markets; STI down 0.8%

Singapore stocks finished Thursday (May 28) lower after renewed US military strikes on Iran dampened hopes for a ceasefire in the Gulf, as well as investors’ risk appetites.

The benchmark Straits Times Index (STI) lost 0.8 per cent or 39.61 points to close at 4,989.19. Across the broader market, losers outnumbered gainers 405 to 248 after two billion securities worth S$2.8 billion changed hands.

Sats : S58 +6.74% led the gainers on Singapore’s blue-chip index, with a 6.7 per cent or S$0.24 climb to S$3.80.

The biggest decliner among the STI constituents was Jardine Matheson : J36 -5.59%, which fell 5.6 per cent or US$3.80 to US$64.20.

The local banks all ended lower. DBS : D05 -0.11% slipped 0.1 per cent or S$0.07 to S$61.93, OCBC : O39 -0.86% lost 0.9 per cent or S$0.20 to end at S$23.16, and UOB : U11 -0.08% was down 0.1 per cent or S$0.03 at S$37.69...

Key regional indices ended in the red. Hong Kong’s Hang Seng Index lost 1.3 per cent, Japan’s Nikkei 225 fell 0.5 per cent, South Korea’s Kospi was down 0.5 per cent and the FTSE Bursa Malaysia KLCI declined 0.8 per cent.

Meanwhile, oil advanced, following a drop of more than 5 per cent on Wednesday.

https://www.businesstimes.com.sg/companies-markets/singapore-stocks-retreat-us-iran-strikes-unsettle-markets-sti-down-0-8