Rising Bond Yields, Earnings Risks Drag Singapore Shares Lower

MT Newswires10-09 17:44

Singapore stocks drifted lower on Friday's close, erasing early morning gains as rising bond yields and corporate earnings risks continued to weigh on the market.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,369.49 and 5,455.17 throughout the day. It ended the session at 5,401.89, down 11.07 points or 0.2% compared to Thursday's close.

In corporate news, UMS Integration (SGX:558) completed the placement of 52.9 million new shares, raising about 450 million ringgit. Shares closed over 1% higher.

OKP Holdings' (SGX:5CF) unit Or Kim Peow Contractors completed the acquisition of a property in Jalan Ahmad Ibrahim, Singapore for SG$21 million. Shares were up nearly 1% at close.

Singapore Technologies Engineering (SGX:S63) opened a new commercial aerospace airframe maintenance, repair, and overhaul facility within Changi Airport. Shares slipped nearly 1%.

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