SINGAPORE – Singapore stocks ended lower on May 5, with investors on edge after the US and Iran launched fresh attacks in Gulf waters.
The benchmark Straits Times Index (STI) lost 0.1 per cent or 3.7 points to finish at 4,920.61.
Frasers Logistics and Commercial Trust led the gainers on Singapore’s blue-chip index, rising 2.1 per cent to end at 99 cents.
The worst performer among STI constituents was Venture Corporation, falling 3.6 per cent to close at $16.48, as it traded ex-dividend.
The three local banks ended mixed. UOB rose 0.3 per cent to $36.28, while DBS finished 0.1 per cent lower at $58.55. OCBC finished 0.2 per cent lower at $21.83.
Within the iEdge Singapore Next 50 Index, Golden-Agri Resources was the top gainer, rising 6.2 per cent to finish at 34.5 cents.
Food Empire was the biggest loser, falling 8.6 per cent to end the session at $2.99.
Across the broader market, gainers trailed losers 247 to 334, after 1.7 billion securities worth $1.7 billion changed hands.
Key regional indices were mixed. Hong Kong’s Hang Seng Index lost 0.8 per cent and the FTSE Bursa Malaysia KLCI rose 0.4 per cent.
“The conflict is having the greatest impact on energy supplies rather than on other sectors, and alternative trade routes are ensuring resilience,” said Mr Norbert Rucker, head of economics and next generation research at Julius Baer.
“This gives the conflict room to de-escalate, but a partial normalisation of trade around the Strait of Hormuz later this year, beyond the summer, remains essential,” he added. THE BUSINESS TIMES
