Singapore shares edged down on Friday on the back of a muted performance
on Wall Street and uninspiring China manufacturing data, while the
broader Asian market fared slightly better.
The benchmark Straits Times Index fell 0.4% to 3,252.05, while MSCI’s
broadest index of Asia-Pacific shares outside Japan rose 0.4%.
Hongkong Land Holdings led losses on the index, plunging 4.1% to an intra-day low of US$6.71 ($8.41), its lowest in three weeks. Record first-quarter earnings on Wednesday from Singapore’s three banks were also cited by analysts as a cue for investors to book their profits at the end of the week.
“I guess the market is taking some profits off the table, especially after we’ve had a pretty good run on Wednesday,”
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Hongkong Land Holdings led losses on the index, plunging 4.1% to an intra-day low of US$6.71 ($8.41), its lowest in three weeks. Record first-quarter earnings on Wednesday from Singapore’s three banks were also cited by analysts as a cue for investors to book their profits at the end of the week.
“I guess the market is taking some profits off the table, especially after we’ve had a pretty good run on Wednesday,”
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