Decliners beat gainers across the broader market 296 to 241, as 1.4 billion securities worth S$1.1 billion are traded
SINGAPORE shares declined as events in the United States weighed down investor sentiment on Friday (Oct 25), with the blue-chip barometer Straits Times Index (STI) down 11.54 points or 0.3 per cent to 3,593.41 at the closing bell.
Vasu Menon, managing director of investment strategy at OCBC, said that rising Treasury yields and the presidential election in the US are causing market jitters. He added that volatility entails risk, but there are opportunities for investors with a good risk tolerance and a medium-term investment horizon.
The STI fell 1.3 per cent over the week, after logging three days of declines and two days of increases.
Mapletree Pan Asia Commercial Trust was the top STI loser on Friday, with its unit price falling 5 per cent or S$0.07 to S$1.34 a day after the announcement that its distribution per unit had declined 11.6 per cent to 1.98 Singapore cents for the quarter to September.
Shares of in-flight caterer and ground handler Sats surged to a two-year high at S$4.01, after rising 7.2 per cent or S$0.27. A Citi report commented that the brokerage has updated its Sats model to reflect improved air cargo outlook. It said that it believes shippers, especially with the US accounting for 30 per cent of global air/ocean freight demand, are causing a pull-forward in demand ahead of potential Trump tariffs 2.0.
Citi did not change the “buy” rating, but raised the target price for Sats to S$4.25 from S$3.76.
Decliners beat gainers across the broader market 296 to 241, as 1.4 billion securities worth S$1.1 billion were traded.
