SINGAPORE – Singapore stocks ended lower on April 22, weighed down by the trio of local banks amid investors concerns of a lengthy Middle East war.
The benchmark Straits Times Index (STI) lost 0.2 per cent or 12.24 points to finish at 5,002.72.
DFI Retail Group was the STI’s biggest gainer, rising 4.6 per cent or US$0.19 to US$4.35.
The worst performer among the index’s 30 constituents was Singtel, which fell 1.6 per cent or $0.08 to $4.78.
The local banks all ended lower. DBS slid 0.5 per cent or $0.28 to $57.20, OCBC dropped 0.1 per cent or $0.02 to $22.59, and UOB was down 0.7 per cent or $0.25 at $37.02.
Over on the iEdge Singapore Next 50 Index, Hong Leong Asia was the top performer, rising 7.3 per cent or $0.23 to finish at $3.40. The diversified Asian multinational with core businesses in powertrain solutions and building materials announced on April 21 that it had acquired a bomb shelter supplier.
Pawnshop operator ValueMax was the index’s biggest decliner, falling 1.7 per cent or $0.02 to $1.15.
Across the broader market, gainers edged out losers 298 to 288, after 1.9 billion securities worth $2.1 billion changed hands.
Key regional indexes were mixed on April 22. Japan’s Nikkei 225 rose 0.4 per cent, and South Korea’s Kospi was up 0.5 per cent. Meanwhile, Hong Kong’s Hang Seng Index lost 1.2 per cent, and the FTSE Bursa Malaysia KLCI declined 0.3 per cent.
Private banking and asset management group LGT said that investors are concerned that the conflict between the US and Iran could be prolonged, despite US President Donald Trump’s decision to extend the two-week ceasefire while maintaining a naval blockade. THE BUSINESS TIMES
