Singapore stocks close flat as regional bourses end higher; STI inches down 0.02%

[SINGAPORE] Local shares closed flat on Friday (Dec 19), even as most regional bourses ended higher.

The benchmark Straits Times Index (STI) inched down 0.02 per cent or 0.83 point to 4,569.78. Meanwhile, the iEdge Singapore Next 50 Index shed 0.1 per cent or 1.51 points to finish at 1,434.85.

Property developer City Developments Ltd was the top blue-chip gainer, rising 4 per cent or S$0.31 to S$7.98.

Yangzijiang Shipbuilding was the biggest decliner on the STI, falling 2.9 per cent or S$0.10 to S$3.37.

Across the trio of local banks, OCBC ended higher, rising 0.3 per cent or S$0.05 to S$19.55. DBS fell 0.5 per cent or S$0.25 to S$54.87, and UOB slipped 0.09 per cent or S$0.03 to S$34.70.

CapitaLand Integrated Commercial Trust was the most actively traded counter on the STI by volume, with 58.7 million units worth S$137.5 million traded. The counter closed 0.4 per cent or S$0.01 higher at S$2.34.

Across the broader market, advancers outnumbered decliners 329 to 177, after 1.3 billion securities worth S$2.1 billion changed hands.

Key regional indices mostly ended higher. Japan’s Nikkei rose 1 per cent after the country’s central bank hiked benchmark interest rates to 0.75 per cent, its highest in three decades.

Sam Jochim, economist at private bank EFG, believes that there is room for the Bank of Japan (BOJ) to increase interest rates further next year. However, another rate hike before June 2026 is unlikely, as it will depend on developments during the annual spring wage negotiations period.

“The pace of future monetary policy tightening will remain very gradual, despite the BOJ remaining behind the curve even after today’s decision,” he said.

South Korea’s Kospi rose 0.7 per cent and Australia’s ASX 200 climbed 0.4 per cent. Hong Kong’s Hang Seng Index was also up, by 0.8 per cent.