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 $DBS Group Holdings(D05.SG$ 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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