Singapore share prices closed 0.05 percent lower on Friday in a cautious market following three consecutive sessions of gains, dealers said. The blue chip Straits Times Index slipped 1.43 points to 3,124.87 on volume of 1.18 billion shares worth 1.25 billion Singapore dollars (926 million US). Decliners led rising issues 310 to 244 with 1,029 stocks unchanged.
"Overall, I see bargain hunting whenever the market softens," said Yeo Kee Yan, retail market strategist at DBS Vickers Securities. Banking shares were mixed, with DBS Group down four cents at 19.14 Singapore dollars, United Overseas Bank up four cents at 20.50 and Oversea-Chinese Banking Corp firming two cents to 8.52.
Among property heavyweights, CapitaLand gained 11 cents to 6.74 and City Developments rose eight cents to 11.92. Keppel Land was steady at 5.81. Singapore Airlines was up two cents at 15.36 and Singapore Telecommunications dropped four cents to 3.85.
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