SINGAPORE – Stocks in Singapore ended lower on May 15.
The benchmark Straits Times Index (STI) lost 0.1 per cent or 6.86 points to finish at 4,989.08.
Singapore Airlines led the gainers on Singapore’s blue-chip index, rising 2.4 per cent or $0.15 to end at $6.42.
The worst performer among STI constituents was Venture Corporation, falling 3.1 per cent or $0.56 to close at $17.64.
The three local banks ended mixed. DBS rose 0.1 per cent or $0.07 to $60.20, while OCBC finished 0.1 per cent or $0.02 lower at $22.93 and UOB finished 0.2 per cent or $0.07 lower at $37.30.
Within the iEdge Singapore Next 50 Index, BRC Asia was the top gainer, rising 3.2 per cent or $0.15 to finish at $4.80.
Meanwhile, CSE Global was the top loser, falling 9 per cent or $0.16 to end the session at $1.61.
Across the broader market, gainers were outnumbered by losers 224 to 431, after 2.3 billion securities worth $2.5 billion changed hands.
Key regional indexes were negative.
Hong Kong’s Hang Seng Index lost 1.6 per cent and Japan’s Nikkei 225 index fell 2 per cent.
In addition, South Korea’s Kospi was down 6.1 per cent and the FTSE Bursa Malaysia KLCI declined 0.3 per cent.
DWS global chief investment officer Vincenzo Vedda said: “If oil prices were to remain above US$110 a barrel for an extended period, this could force central banks to adopt a more restrictive monetary policy, even as economic growth slows.
“Further increases in bond yields could put pressure on the high valuations seen in equity markets.” THE BUSINESS TIMES
