Singapore share prices closed 1.01 percent lower on Wednesday due to an absence of fresh leads and on regional security concerns following North Korea's missile tests, dealers said. The Straits Times Index dipped 24.62 points to 2,424.11 on volume of 1.24 billion shares worth 1.03 billion Singapore dollars (648.10 million US).
Losers led gainers 335 to 197, with 662 shares unchanged. "The missile testing has created a destabilising factor. A lot of mending of market sentiment needs to be done," a dealer at a local brokerage said. "Investors will remain vigilant to the developments in North Korea and how the powers-that-be resolve this issue."
Banking stocks fell, with DBS Group Holdings losing 0.30 to 17.80, Oversea-Chinese Banking Corp down 0.15 at 6.40 and United Overseas Bank down 0.30 at 15.30. Property stocks also retreated, with CapitaLand losing 0.06 to 4.52, Keppel Land declining 0.04 to 4.06 and City Developments falling 0.05 to 9.40.
Blue chips were mixed. Singapore Telecommunications fell 0.01 to 2.54 and Singapore Press Holdings dropped 0.06 to 4.08, while ST Engineering gained 0.01 to 2.910 and Singapore Airlines remained flat at 121.70.
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