SINGAPORE shares ended Tuesday (Feb 27) in the red, against a mixed bag of results in other regional stock markets, as investors waited for the release of a slew of macroeconomic data that would offer more clarity on interest rates.
The local benchmark Straits Times Index (STI) lost 0.4 per cent or 13.8 points to finish the trading day at 3,157.32. Across the broader market, advancers narrowly beat decliners 285 to 280, after about two billion securities worth a collective S$1.2 billion changed hands.
Other key indices in the region ended the day with mixed results. The Hang Seng Index gained 0.9 per cent; the SSE Composite Index added 1.3 per cent, and the Bursa advanced 0.7 per cent. The Kospi fell 0.8 per cent, while the Nikkei 225 ended flat.
SPI Asset Management’s managing partner Stephen Innes said in a note that Asian markets commenced this week “with a more cautious demeanour” in contrast to the previous week’s exuberance.
“This subdued tone suggests a moderation in investor sentiment following the recent tech-driven buying spree,” he noted. Innes added that traders around the world are preparing for a “deluge of economic data” focusing on the personal consumption expenditures deflator, and comments from US Federal Reserve policymakers that could provide insight into the possibility of the Fed’s first rate cut.
UOB was the top STI gainer, adding 0.1 per cent or S$0.02 to S$28.20 on a cum-dividend basis. DBS closed flat at S$33.50 on a cum-bonus and cum-dividend basis; while OCBC fell 0.2 per cent or S$0.02 to close at S$13.31.
Jardine Matheson Holdings was the biggest constituent loser, shedding 2.2 per cent or US$0.94 to US$41.01.
Seatrium was the most heavily traded stock on Tuesday, with about 686.6 million shares traded. The stock fell 1.1 per cent or S$0.001 to close at S$0.09.
Other heavily traded counters included Oceanus, Thai Beverage and Nanofilm Technologies.
