[SINGAPORE] Local shares closed lower on the first trading day of the week, tracking a mixed performance across Asian markets, as investors braced for geopolitical developments and key corporate earnings in the days ahead.
The blue-chip Straits Times Index (STI) finished 0.2 per cent or 7.05 points down at 4,232.78 on Monday (Aug 11). Across the broader market, gainers beat losers 279 to 254, with about 1.3 billion securities worth S$1.4 billion changing hands.
On the STI, technology solutions provider Venture Corp led the gains, rising 1.1 per cent or S$0.15 to S$13.25.
Sembcorp came in at the bottom of the list, down 3.4 per cent or S$0.23 at S$6.49. Earlier on Monday, Maybank downgraded the stock to “hold” and cut its target price to S$6.40 from S$7.10, following last week’s earnings decline.
The trio of local banks ended the day mixed, with DBS closing flat at S$50.75. OCBC rose 0.5 per cent or S$0.09 to S$16.88 and UOB gained 0.1 per cent or S$0.05 to close at S$35.75.
Major indices across the region were varied. The Kospi slipped 0.1 per cent, while the Nikkei 225 advanced 1.9 per cent. The KLCI rose 0.4 per cent and the Hang Seng added 0.2 per cent.
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This came at the start of a “high-stakes” week with a preliminary trade truce between the US and China set to expire, and other countries pushing to secure agreements with the Trump administration, said Christian Gattiker, head of research at Julius Baer.
He noted that a global macro pulse will emerge from a raft of inflation, production and spending data.
US headline and core consumer price data, due to be released on Tuesday, are expected to remain above the Federal Reserve’s 2 per cent target, amid signs that import tariffs may be feeding into prices.
China will also release its second-quarter activity data on Friday, including retail sales, industrial production and fixed investment. These reports, along with Q2 gross domestic product figures from several Asian economies, are likely to shape expectations for the region’s growth trajectory.
“With central bank decisions, political headlines and key earnings also in play, markets may not enjoy a typical August breather,” added Gattiker.
