Across the broader market, losers beat gainers 320 to 195, after 1.4 billion securities worth S$1.3 billion change hands
[SINGAPORE] Shares on the Singapore bourse closed the first trading day of the week in the red amid mixed performance among regional markets.
The benchmark Straits Times Index (STI) fell 0.4 per cent or 15.41 points to 3,899.07 on Monday (Mar 10).
The biggest decliner on the index was property developer Hongkong Land. The counter slid 1.8 per cent or US$0.08 to US$4.38.
The top gainer was real estate investment trust Frasers Logistics & Commercial Trust, climbing 1.8 per cent or S$0.015 to S$0.855.
Resort and casino operator Genting Singapore was the most actively traded counter by volume, with 38.9 million shares worth S$27.8 million traded. The counter rose 1.4 per cent or S$0.01 to S$0.72.
Across the broader market, losers beat gainers 320 to 195, after 1.4 billion securities worth S$1.3 billion were traded.
Markets across the region ended mixed. Japan’s Nikkei 225 was up 0.4 per cent, South Korea’s Kospi climbed 0.3 per cent and Australia’s ASX 200 added 0.2 per cent. However, Hong Kong’s Hang Seng took a beating after China imposed tariffs on US agricultural goods. The bourse shed 1.9 per cent.
With the trade war heating up between the US and China, Paul Chew, head of research at Phillip Securities Research, said the next wave of American tariffs could be on South-east Asia. However, he noted that the levy rate would be less than the 20 per cent imposed on China.
Sectors in Singapore that are better sheltered from a trade war include construction, defence, finance and property. However, manufacturing is “burdened” by tariff uncertainty, Chew added.
Copyright SPH Media. All rights reserved.
