Singapore share prices closed 0.49 percent lower on Thursday on a further consolidation in the market, triggered by Wall Street's overnight falls, dealers said. The Straits Times Index (STI) closed down 17.42 points at 3,546.33. Volume traded was 3.06 billion shares valued at 2.39 billion Singapore dollars (1.57 billion US).
Rising issues outpaced losers 436 to 368 while 676 issues were even. A local brokerage dealer said the market is taking a much-needed breather after its recent sharp gains, and in the absence of domestic buying leads. "The index is likely to react to changes in other markets, although situational plays will also be a feature," the dealer said, noting that the prices should continue to consolidate tomorrow.
For the blue chips, Singapore Telecommunications fell 0.02 to 3.50, Singapore Press Holdings slipped 0.04 to 4.34 and Singapore Airlines was steady at 18.50. In the property sector, City Developments dropped fell 0.40 to 17.30, Keppel Land was down 0.10 at 9.20 while CapitaLand rose 0.05 to 8.00.
Banks were lower as DBS Group Holdings fell 0.20 to 23.80, United Overseas Bank dropped 0.10 to 23.40 and Oversea-Chinese Banking Corp finished flat at 9.50. In the technology sector, Chartered Semiconductor put on 0.02 to 1.35, Venture slipped 0.40 to 15.70 and Creative Technology was up 0.15 at 7.85.