Singapore share prices closed 0.96 percent lower on Tuesday with investor sentiment still weak because of global economic jitters, dealers said. The blue chip Straits Times Index fell 26.26 points to 2,707.19. Volume totalled 855 million shares worth 962 million Singapore dollars (628 million US) and there were 136 rising issues, 382 losers while 875 issues were even.
"It's too early to talk about rebounds. The focus is still on the downside. We are in a global bear market," said UOB Kay Hian analyst K. Ajith. Adding to the gloom were latest figures from the Singapore government that showed the local manufacturing sector declined 21.9 percent in July from a year ago.
The sector is a key pillar of the local economy which is heavily dependent on exports. Among blue chips, Singapore Airlines fell 16 cents to 15.04 Singapore dollars, Singapore Telecommunications dropped three cents to 3.47 dollars and Neptune Orient Lines was off 11 cents to 2.19.
For the banks, DBS lost 16 cents to 17.62, United Overseas Bank tumbled 34 cents to 18.84 and Oversea-Chinese Banking Corp eased eight cents to 8.05. Property developer City Developments bucked the weak trend to close 12 cents higher at 10.40 as did CapitaLand, which finished eight cents higher at 4.40.
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