STI dips 0.4% as investors are concerned about war and inflation

[SINGAPORE] Singapore stocks ended lower on Friday (Apr 24) as geopolitics and inflation weigh on market sentiment.

The benchmark Straits Times Index (STI) lost 0.4 per cent or 21.25 points to finish at 4,922.86.

Yangzijiang Shipbuilding led the gainers on Singapore’s blue-chip index, rising 3.8 per cent or S$0.16 to end at S$4.33.

The worst performer among STI constituents was UOB , falling 2.4 per cent or S$0.9 ex-dividend to close at S$36. The bank declared a dividend of S$0.71 per share for the half-year to December.

Its peers also closed down. DBS lost 0.2 per cent or S$0.10 to S$56.90, and OCBC dropped 0.4 per cent or S$0.09 to S$21.71.

Within the iEdge Singapore Next 50 Index, precision engineering group UMS Integration was the top gainer as it is riding the artificial intelligence wave, rising 8.1 per cent or S$0.16 to S$2.14.

Meanwhile, pawnshop operator ValueMax was the top loser, falling 7.1 per cent or S$0.08 to end the session at S$1.04.

Across the broader market, gainers beat losers 313 to 281, after 1.9 billion securities worth S$2.3 billion changed hands.

Over the week, STI was 1.6 per cent lower.

Key regional indices were mixed. Hong Kong’s Hang Seng Index gained 0.2 per cent, Japan’s Nikkei 225 index rose 1 per cent, South Korea’s Kospi was unchanged and the FTSE Bursa Malaysia KLCI declined 0.1 per cent.

Private banking and asset management group LGT said Asia-Pacific equities traded without clear direction as investors remained wary despite Israel and Lebanon agreeing at White House to continue their ceasefire.