S’pore stocks start week in the red despite some Covid-19 rules easing, Companies & Markets News & Top Stories

SINGAPORE (THE BUSINESS TIMES) – Local shares started the week on a slightly dour note despite the easing of some Covid-19 restrictions as part of Singapore’s reopening.

The benchmark Straits Times Index fell 0.2 per cent or 4.83 points to end at 3,153.14 on Monday. Across the broader market, advancers outpaced decliners 212 to 182, after some 2.14 billion securities worth $941.5 million changed hands.

Across the region, markets generally ended the day in the black. The Nikkei 225 added 0.7 per cent, the KL Composite Index gained 0.5 per cent, while the Kospi rose 0.1 per cent. Hong Kong and Taipei were closed.

IG senior market strategist Pan Jingyi said some cautious sentiments may linger globally ahead of the United States Federal Reserve’s Federal Open Market Committee meeting on June 16 as investors weigh the prospects on when it may begin “tapering discussions”.

On the local bourse, Prudential was the top advancer of the day, gaining 11.2 per cent or US$1.71 to finish the day at US$17.02.

Powermatic Data Systems was another top advancer, rising 26.5 per cent or $0.71 to $3.39.

Most of the locally listed glove makers were also among the gainers. Top Glove added 1.3 per cent or $0.02 to $1.58; Riverstone Holdings gained 2.3 per cent or $0.03 to $1.35; and UG Healthcare rose 1.6 per cent or $0.01 to $0.62. Newly listed Sri Trang Gloves was among the biggest decliners, losing 5.1 per cent or $0.10 to close at $1.85.

The three banks were also among the top losers. UOB lost 0.6 per cent or $0.16 to $25.98; OCBC fell 0.8 per cent or $0.10 to $12.23, and DBS shed 0.2 per cent or $0.07 to $29.66.

Amos Group was the most actively traded counter for the day. The counter ended Monday up 9.1 per cent or 0.2 Singapore cent at 2.4 cents after some 144.9 million shares changed hands.

Other heavily traded counters were RH Petrogas, Marco Polo Marine and GSS Energy.