Singapore stocks end lower amid downbeat regional showing; STI down 0.5%

Shikhar Gupta

Published

• Singapore's Straits Times Index fell 0.5% on May 20, closing at 5,044.91, with more losers than gainers across the broader market.
• Yangzijiang Shipbuilding was the worst STI performer, falling 3.3%; local banks like DBS, OCBC, and UOB also ended lower.
• The iEdge Singapore Next 50 Index dropped 0.9%, while key regional indexes in Hong Kong, Japan, and Korea also closed negatively.

SINGAPORE - Stocks in Singapore ended lower on May 20.

The benchmark Straits Times Index (STI) lost 0.5 per cent, or 27.43 points, to finish at 5,044.91.

Wilmar International led the gainers on Singapore’s blue-chip index, rising 2.2 per cent, or eight cents, to end at $3.73.

It was the worst STI performer on May 19, having fallen 1.6 per cent.

The worst performer among STI constituents on May 20 was Yangzijiang Shipbuilding, falling 3.3 per cent, or 13 cents, to close at $3.81.

The local banks all ended lower. DBS Bank lost 1.1 per cent, or 70 cents, closing the day at $61.30. OCBC Bank fell 0.8 per cent, or 19 cents, to $23.24, and UOB was down 0.4 per cent, or 16 cents, at $37.59.

The iEdge Singapore Next 50 Index lost 0.9 per cent, or 14.21 points, to 1,531.14.

Within the index, Frencken was the top gainer, rising 8.5 per cent, or 24 cents, to finish at $3.05, while First Resources was the top loser, falling 5.9 per cent, or 19 cents, to end the session at $3.03.

Across the broader market, gainers were outnumbered by losers 258 to 344, after 1.6 billion securities worth $2.3 billion changed hands.

Key regional indexes were negative.

Hong Kong’s Hang Seng Index lost 0.6 per cent, Japan’s Nikkei 225 fell 1.2 per cent, South Korea’s Kospi dropped 0.9 per cent and the FTSE Bursa Malaysia KLCI declined 0.6 per cent.

source: The Straits Times https://www.straitstimes.com/business/companies-markets/singapore-stocks-end-lower-amid-downbeat-regional-showing-sti-down-0-5