BullnBearTrading wrote a post · May 8, 2024 20:15

Banks slip on Wednesday as STI falls 1.1%

Singapore stocks closed lower on Wednesday (May 8), with banking stocks among the decliners, as investor sentiment across the region remained cautious.

The benchmark $FTSE Singapore Straits Time Index (.STI.SG)$ fell 1.1 per cent or 35.51 points to close at 3,264.53.

On the local bourse, banks contributed to the STI’s weakness, with $OCBC Bank (O39.SG)$ , $UOB (U11.SG)$ and $DBS (D05.SG)$ all closing in the red.

OCBC, which was trading ex-dividend, was the top decliner, slipping 3.6 per cent to S$13.75. Meanwhile, UOB, which reported a 1.6 per cent year-on-year decline in first-quarter net profit on Wednesday, fell 2.2 per cent to S$29.88, while DBS shares closed 0.6 per cent lower at S$35.71.

Across the broader market, losers outnumbered gainers 320 to 253 after one billion securities worth S$1.3 billion changed hands.

$Genting Sing (G13.SG)$ was the most actively traded stock by volume, with some 41.5 million shares worth S$36.3 million transacted. The counter fell 1.1 per cent to close at S$0.875.

Meanwhile, $Venture (V03.SG)$ , which had underperformed earlier this week, was the top STI gainer on Wednesday, climbing 2.8 per cent to close at S$13.80. Other top performers for the day included $SATS (S58.SG)$ ,which rose 1.2 per cent, and $CapLand IntCom T (C38U.SG)$ , which was up 1 per cent.

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