Singapore Strait Times Index slumped on Thursday at the close, tracking overnight losses in global markets.
During the day, the benchmark index ranged between 3,125.64 and 3,149.35, ending 0.08% or 2.36 points lower at 3,133.78.
In economic news, Singaporean real estate investment trusts (REITs) reported a decline in their DPUS in the second half of 2023 due to higher interest costs, according to The Business Times Singapore.
Meanwhile, Half of small and medium-sized enterprises (SMEs) reported reduced profitability for 2023 due to increased costs, according to a survey from QBE Insurance, cited by The Business Times.
In company news, CSC Holdings's (SGX:C06) shares zoomed 17%, after the company bought back another 1 million shares in the open market on Tuesday at SG$0.007 apiece, for a total of SG$7,047.
Singtel's (SGX:Z74) shares rose nearly 1% after its subsidiary, Pastel Limited, sold 49 million shares in Bharti Airtel (NSE:BHARTIARTL, BOM:532454) for a total of SG$950 million.