Singapore shares closed 1.0 percent lower on Wednesday in volatile trade after touching new highs in the early session, dealers said. In morning trade, blue chip buying pushed the index to a new high of 3,845.75 before it gave up the gains as profit-taking set in.
The Straits Times Index closed down 39.21 points at 3,754.62, off its record close of 3,793.83 on Tuesday -- the third record close since Thursday. Volume totalled 3.31 billion shares worth 3.69 billion dollars (2.49 billion US).
Losers led gainers 684 to 251, with 693 issues unchanged. "Looking ahead we can expect volatility to continue as our local market is in somewhat uncharted territory breaking through the 3,800 point barrier throughout intraday," DMG and Partners Securities said in a note to clients.
Among banking stocks, DBS Group Holdings fell 30 cents to 22.20 Singapore dollars, United Overseas Bank dropped 20 cents to 22.40, and Oversea-Chinese Banking Corp fell 10 cents to 9.05.
Property stocks were also hit, with CapitaLand falling five cents to 8.25, and Keppel Land easing 10 cents to 8.55. Singapore Telecommunications also fell, down eight cents to 3.86. Among advancing stocks, Sembcorp Marine gained 25 cents to 5.40, and Singapore Airlines rose 20 cents to 19.00.
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