Singapore share prices took a breather and closed lower on Wednesday after three successive trading days of record highs, dealers said. They said overall sentiment remains positive despite the weaker close. The Straits Times Index fell 0.88 points to 3,628.67, after rising to a fresh all-time intra-day peak of 3,652.02 earlier in the day.
Volume totalled 5.7 billion shares worth 3.4 billion Singapore dollars (2.2 billion US) amid 532 rising issues, 343 decliners and 620 issues were even. Pulling the index lower were the three banks with DBS losing 0.30 to 23.80, United Overseas Bank retreated 0.40 to 23.10 and Oversea-Chinese Banking Corp shed 0.05 to 9.45.
Among blue chips, shipping giant Neptune Orient Lines Ltd bucked the downward trend to close 0.17 higher at 5.15 on hopes that container rates will rebound in the second half of the year.
SembCorp Industries was 0.05 higher at 5.90 as traders speculated the company may buy at least one of the three power generating companies here that will be put up for sale by state-linked investment firm Temasek Holdings.
Singapore Press Holdings finished 0.12 up at 4.54, Singapore Airlines gained 0.10 to 19.00 and Singapore Telecommunications added 0.02 to 3.42. For the property sector, CapitaLand was flat at 8.10, Keppel Land rose 0.05 to 9.20 and City Developments dropped 0.40 to 17.50.
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