Singapore share prices closed 0.98 percent weaker on Tuesday as a cautious mood prevailed with no fresh leads to boost the market, dealers said. The blue chip Straits Times Index (STI) finished 28.55 points lower at 2,890.66. Volume traded totalled 824 million shares worth 855 million Singapore dollars (633 million US) and there were 205 rising issues, 286 losers while 905 issues were even.
Wall Street's weaker finish on Monday weighed on the local market, dealers said. "The local market was just taking cues from the poor performance in the US," said a local trader. Najeeb Jarhom, senior vice president at AmFraser, tipped the STI to trade between 2,750 and 2,950 points in the near term with investors ready to sell when the market rises.
Among property stocks, CapitaLand fell 12 cents to 5.75, City Developments dropped 10 cents to 10.76 and Keppel Land was off two cents at 4.88. Commodity-linked stocks bucked the downward trend with Olam International up two cents to 2.17 and Noble Group up one cent to 2.11. For the banks, DBS eased two cents to 19.16, United Overseas Bank retreated 28 cents to 18.72 and Oversea-Chinese Banking Corp was off four cents at 8.25.
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