Singapore Market ends in red on Middle East tensions

The Singapore stock market finished session lower on Monday, 15 April 2024, joining regional markets retreat, as fears of global economic instability from an escalating conflict in the Middle East and declines on Wall Street late last week spurred selling of a wide range of issues.

At closing bell, the Straits Times Index (STI) index was down 33.30 points, or 1.04% to 3,183.61 after trading between 3,175.41 and 3,196.08. Volume of 1.85 billion shares worth S$1.29 billion changed hands. Across the broader market, decliners outpaced advancers with 401 to 203.

Yangzijiang Shipbuilding was the top constituent gainer for the day, rising 0.56% to S$1.78. Mapletree Pan Asia Commercial Trust was the top decliner on the STI for the day, down 4.5% to S$1.26.

Banking stocks ended the day lower, with shares of DBS Group Holdings falling 1.33% to S$35.64, while Oversea-Chinese Banking Corp erased 0.44% at S$13.71. United Overseas Bank was steady at S$29.57.

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