SINGAPORE - Singapore's stock market experienced a downturn today, with the Straits Times Index (STI) falling 0.5% due to significant activity in real estate investment trusts and a general decline in index counters. The market imbalance was clear, with 70 securities ending lower compared to 51 that saw gains. A total of S$70.4 million worth of securities changed hands.
Leading the volume was Genting Singapore, which saw its shares fall by S$0.01 on the back of eight million shares traded. Other actively traded securities included Seatrium, with 3.8 million shares, and Manulife US REIT, which moved 3.3 million units.
Banking stocks also faced headwinds, contributing to the broader market's losses. DBS Group (OTC:DBSDY) Holdings Ltd fell S$0.20, United Overseas Bank (OTC:UOVEY) Ltd (UOB) dropped S$0.12 to close at S$27.19, and Oversea-Chinese Banking Corp (OCBC) shed S$0.04 from its share price.
The property sector was not immune to the downward pressure, with prominent trusts like CapitaLand Integrated Commercial Trust and Mapletree Logistics Trust also registering declines.
In contrast to the sluggish performance of the STI, Singapore Airlines (OTC:SINGY) offered a bright spot with a significant year-on-year increase of 24.5% in passenger traffic for October.
On the international front, SpaceX received approval for their second Starship rocket launch, indicating progress in their space exploration endeavors.
Meanwhile, Barclays' sale of Additional Tier 1 (AT1) capital instruments drew considerable attention from investors, signaling confidence in the banking giant's financial instruments.
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