Singapore stocks fall as US dollar strength weighs on Asian stock indexes; STI drops 0.8%

The Straits Times2024-11-12

SINGAPORE – Stocks in Singapore fell on Nov 12 as regional sentiment weakened after the US dollar strengthened overnight. The benchmark Straits Times Index (STI) fell 0.8 per cent or 27.99 points to ...

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DFI Retail Group was close","collect":0,"end_time":0,"defaultTopTitle":"straitstimes.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"translate_title":"美元走强打压亚洲股指，新加坡股市下跌；STI下跌0.8%","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"STI.SI":1},"content_text":"SINGAPORE – Stocks in Singapore fell on Nov 12 as regional sentiment weakened after the US dollar strengthened overnight. \nThe benchmark Straits Times Index (STI) fell 0.8 per cent or 27.99 points to 3,711.48.\nAcross the broader market, losers beat gainers 297 to 276 after 1.4 billion securities worth $1.3 billion changed hands.\n\n\n\nSingapore Exchange market strategist Geoff Howie noted that the trade-weighted US dollar index has reached levels not seen since July 2 and is up 4.9 per cent for the fourth quarter this year. \n“Overnight strength in the US dollar, which has continued into Asia trading, weighed on most Asia stock indices today,” he said.\n\n“While the past week has seen much conjecture of a stronger US dollar, driven in part by potential tariffs under the incoming Trump administration, the US dollar index is still some 8 per cent off its September 2022 highs,” he added.\n\n\n\n\nRegional stock indexes were in the red on Nov 12. Japan’s Nikkei 225 shed 0.4 per cent, South Korea’s Kospi fell 1.9 per cent and Hong Kong’s Hang Seng Index declined 2.8 per cent.\n\nMr Howie said that companies with US dollar exposure have benefited.\nFor instance, Yangzijiang Shipbuilding, which earns most of its revenue in US dollars while incurring most of its costs in Chinese yuan, bucked the regional trend and posted gains on Tuesday. The company gained 1.6 per cent or four cents to close at $2.57.\nOn the STI, Jardine Matheson Holdings was the top gainer, rising 2 per cent or US$0.80 to US$41.15. DFI Retail Group was close behind, gaining 1.7 per cent or US$0.04 to US$2.38.\nUOB was at the bottom of the table. It fell 3.1 per cent or $1.12 to $35.53. THE BUSINESS TIMES\n\n\n\n\n\nMore On This Topic\n\n \n\nTrump trade fuels a full-on rally in financial markets\n\n\n\n \n\nSingapore stocks in positive territory despite tepid regional sentiment; STI up 0.4%","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.4","shortVersion":"4.29.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482703609"}