Singapore stocks fluctuate as banks decline, Biolidics soars

SINGAPORE – The Singapore stock market experienced a mixed performance with the Straits Times Index (STI) witnessing fluctuations amid various corporate developments. In early trading today, the STI decreased to 3,105.08 points as major banks reported losses. DBS Group (OTC:) Holdings Ltd (SGX:D05) sank to S$31.80, United Overseas Bank (OTC:) Ltd (SGX:U11) fell to S$27.27, and Oversea-Chinese Banking Corp (SGX:O39) dropped to S$12.71. This dip comes as the US markets were closed for Thanksgiving, potentially impacting investor sentiment.

In contrast, Biolidics Limited (SGX:8YY) saw its shares spike by 15.4%, hitting S$0.015 with a significant trade volume of 4.1 million shares. Keppel (OTC:) Infrastructure Trust (SGX:A7RU) remained stable at S$0.47. Meanwhile, Yangzijiang Financial Holding Ltd (SGX:YZJ) decreased slightly to S$0.325 and Singapore Telecommunications Limited (SGX:Z74), commonly known as Singtel, edged down to S$2.27.

City Developments Limited (SGX:C09), a leading global real estate operating company, saw its stock rise by half a percent reaching S$6.24 following their third-quarter sales announcement of S$325 million.

Overall market activity showed a balance between gainers and losers after a total of 89.7 million securities worth S$66.2 million were exchanged.

Looking back to Thursday, the STI closed down slightly at 3,111.75, marking a decrease of just 0.1%. Venture Corporation Ltd (SGX:V03) recorded the biggest loss among index stocks, retreating by 1.9% to finish at S$12.80 as the top index decliner for the day’s session. The banking sector also faced challenges; both DBS and OCBC fell by approximately 0.3%, while UOB saw a modest dip of about 0.1%.

On the upside, DFI Retail Group (SGX:D01) managed to stand out as the day’s top STI performer with its shares ascending by an impressive 1.8% to US$2.29 at the close of trading on Thursday in Singapore time (UTC+8). Hongkong Land Holdings Limited (SGX:H78) and Yangzijiang Shipbuilding Holdings Ltd (SGX:BS6) also enjoyed positive movements with respective increases of 1.5% and 1.4%. Reflecting this mixed sentiment, there were more gainers than losers—326 against 224—with a substantial volume of over one billion securities changing hands amounting to S$553.9 million in total trades for the day.

Investors are closely monitoring these developments as they navigate through the contrasting movements within different sectors of the Singapore market.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.