Singapore shares prices closed 0.12 percent down Friday on profit taking ahead of the weekend, dealers said. The Straits Times Index fell 2.77 points at 2,303.2. Volume traded totalled 820 million shares worth 997 million Singapore dollars (604 million US), down from 1.12 billion shares valued at 1.07 billion dollars on Thursday.
There were 226 rising issues, 249 losers and 534 stocks were even.
Investors were taking profits with little fresh leads now that most of the leading firms have unveiled their June quarter results.
The market has wiped out the 67.5-point gain it made during a six-day rally from July 26 to August 2, which was spurred by banking and property stocks after the government eased home mortgage financing rules.
Dealers however, said there was a chance the main index might bounce back to 2,399 points, its highest level this year.
"Despite gliding lower, we do not discount the possibility of a rebound to its year-high at 2,399," DBS Vickers Securities said.
Among the blue chips, Singapore Telecommunications was flat at 2.62, Singapore Press Holdings dropped six cents to 4.48, Singapore Airlines was even at 11.50 and ST Engineering gained two cents to 2.58.
In the banking sector, DBS rose 10 cents to 15.80, United Overseas Bank lost 10 cents to 14.40 and Oversea-Chinese Banking Corp eased five cents to 6.20.
Among technology stocks, Creative Technology was steady at 12 dollars, Chartered Semiconductor rose two cents to 1.20 and STATS ChipPac was flat at 1.04.
In the property sector, CapitaLand lost one cent to 2.82, Singapore Land fell five cents to 5.65 and City Developments added 10 cents to 8.55.