SGX drifts lower on China data, North Korea tensions

Singapore stocks fell on Thursday, tracking weak Asian shares as weaker-than-expected China data and simmering geopolitical tensions curbed risk appetite.

sgx trader
A trader looks at electronic screens on the dealing floor at DBS Bank's new headquarters in Singapore. REUTERS

Singapore stocks fell on Thursday, tracking weak Asian shares as weaker-than-expected China data and simmering geopolitical tensions curbed risk appetite.

Asian stocks inched down from 10-year highs following a burst of Chinese data which was largely weaker than markets expected.

China's fixed-asset investment, factory output and retail sales all grew less than expected, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent after rising to its highest since 2007 the day before.

Sentiment was also subdued amid reports of North Korean threats to "sink" Japan.

At 0605 GMT, the Straits Times Index lost 0.28 percent or 9 points to 3,221. It ended 0.16 percent lower on Wednesday, taking the year-to-date performance to about 12 percent.

Singapore's total employment in the second quarter declined by
7,300, data showed.

Among the lenders, Oversea-Chinese Banking Corp fell 0.5 percent , DBS Group Holdings lost 0.4 percent and United Overseas Bank declined 0.1 percent.

Golden Agri-Resources, the world's second-largest palm oil producer, said it launched a major downstream fatty alcohol facility in Indonesia. Its shares jumped 4 percent.

About 1.2 billion shares worth S$577 million changed hands, with losers outnumbering gainers 175 to 152.

sgx trader
A trader looks at electronic screens on the dealing floor at DBS Bank's new headquarters in Singapore. REUTERS

Singapore stocks fell on Thursday, tracking weak Asian shares as weaker-than-expected China data and simmering geopolitical tensions curbed risk appetite.

Asian stocks inched down from 10-year highs following a burst of Chinese data which was largely weaker than markets expected.

China's fixed-asset investment, factory output and retail sales all grew less than expected, Reuters reported.

MSCI's broadest index of Asia-Pacific shares outside Japan edged down 0.1 percent after rising to its highest since 2007 the day before.

Sentiment was also subdued amid reports of North Korean threats to "sink" Japan.

At 0605 GMT, the Straits Times Index lost 0.28 percent or 9 points to 3,221. It ended 0.16 percent lower on Wednesday, taking the year-to-date performance to about 12 percent.

Singapore's total employment in the second quarter declined by
7,300, data showed.

Among the lenders, Oversea-Chinese Banking Corp fell 0.5 percent , DBS Group Holdings lost 0.4 percent and United Overseas Bank declined 0.1 percent.

Golden Agri-Resources, the world's second-largest palm oil producer, said it launched a major downstream fatty alcohol facility in Indonesia. Its shares jumped 4 percent.

About 1.2 billion shares worth S$577 million changed hands, with losers outnumbering gainers 175 to 152.

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