Shares Fall After Missle Attack
May 16, 2011
The 30-share Straits Times Industrials Index lost 23.54 to 2105.26. Total market volume was 88.1 million units valued at 206.4 million Singapore dollars. A total of 74 stocks closed higher, 243 lower, while another 229 ended unchanged. Among other closely watched indexes, the DBS-50, which is capitalization-weighted with shares from all sectors, edged 3.65 lower to 541.04. The UOB-OTC index, which tracks Malaysian over-the-counter shares, closed 10.21 to 1156.68. Traders said declines among other some other Asian bourses and fears that shares on Wall Street may be sold in the light of the attack on Iraq contributed to the bearish mood, although selling took place in thin volumes. Total volume is estimated at 92.6 million units. The foreign shares of Singapore Press Holdings and Singapore Airlines led declines among index stocks. SPH foreign stock slid 60 Singapore cents to S$23.30 and SIA foreign stock decreased 50 cents to S$14.30. Trading volumes were concentrated in over-the-counter Malaysian stocks and selected middle-ranking Singapore shares that have been the focus of speculative interest in recent weeks. Shares in printed-circuit-board maker PCI added 6 cents to 85.5 cents amid rumors that shipping group Chuan Hup Holdings might be planning to sell its stake in the company. More than 4.5 million shares in PCI changed hands, making it the most actively traded stock on the day. Paint-maker Berger International edged up 2 cents to S$1.57 in volume of 2.9 million shares. Property and hospital management company Parkway Holdings gained 4 cents to S$4.34, in partly speculative activity. Malaysia's Berjaya Group recently took a major stake in the company. Among other blue chip shares on the move, the foreign stock of Overseas United Bank fell 40 cents to S$9.40. The foreign shares of the Development Bank of Singapore lost 20 cents to S$16.30.
