SINGAPORE stocks ended the first trading day of the week lower amid cautious investor sentiment and profit-taking across the market.
The benchmark Straits Times Index (STI) lost 0.4 per cent or 13.79 points to end the trading session on Monday (Feb 26) at 3,171.12. Across the broader market, decliners outnumbered advancers 325 to 241, and daily turnover came in at 1.8 billion securities worth a collective S$1.1 billion.
Other markets in the region mostly closed lower on Monday, as investors remained cautious about the usual suspects – interest rates and inflation data. The Hang Seng Index lost 0.5 per cent; the Bursa shed 0.1 per cent and the Kospi declined 0.8 per cent. The SSE Composite Index fell 0.9 per cent, but the Nikkei 225 added 0.4 per cent.
Charu Chanana, head of FX strategy at Saxo Markets, said that the focus this week is again on macroeconomic factors. In particular, the US core personal consumption expenditures – widely known as the Federal Reserve’s preferred inflation gauge – is on the radar.
“While a hot print is likely to again question the last mile of the disinflation train, there is little scope for markets to price in any additional hawkishness data or comments,” she said.
DBS was the biggest loser by value on the STI, shedding 1 per cent or S$0.33 to close at S$33.50. The other local lenders also ended the day in the red – UOB lost 0.2 per cent or S$0.07 to S$28.18, while OCBC fell 0.3 per cent or S$0.04 to S$13.33.
Venture Corporation was the top constituent gainer, rising 5 per cent or S$0.68 to S$14.40 on a cum-dividend basis.
Seatrium was the most heavily traded stock, with about 873.5 million shares traded. The company on Monday reported a net loss of S$1.7 billion for the second half of its fiscal year ended December 2023. The counter fell 2.2 per cent or S$0.002 to close at S$0.091.
