Singapore shares fall after 4-day rally; DBS, United Overseas Bank top losers

Singapore stock exchange
An SGX sign is pictured at Singapore Stock Exchange Reuters

Singapore shares fell after four consecutive sessions of gains on Thursday, dragged lower by financials and industrials.

Asian shares held near record highs following a deal to end a U.S government shutdown while the dollar struggled after U.S Treasury Secretary Steven Mnuchin welcomed a weaker currency.

MSCI's broadest index of Asia-Pacific shares outside Japan was flat after hitting an all-time peak for the ninth session in a row. Japan's Nikkei fell 0.9 percent, hit by the dollar's decline against the yen, Reuters data showed.

The Straits Times Index lost 0.68 percent or 25 points to 3,584. It ended 0.48 percent higher on Wednesday, taking the year-to-date gains to about 6 percent.

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The city-state's top lenders Oversea-Chinese Banking Corp edged down 0.4 percent and United Overseas Bank dropped 1 percent.

DBS Group Holdings Ltd fell for the first time in five sessions, declining as much as 1.3 percent, while Keppel Corp Ltd dropped up to 1.9 percent.

Active stocks included, QT Vascular climbing 6.2 percent to S$0.02 while Accrelist lost 14 percent to S$0.01 in afternoon trades.

Noble gained 8 percent amid report China's Cedar Holdings was interested in buying the commodities trader.

CapitaLand Commercial Trust gained 0.5 percent after it reported a 6 percent rise in fourth-quarter distributable income.

About 1.4 billion shares worth S$825 billion changed hands, with losers outnumbering gainers 257 to 137.

This article was first published on January 25, 2018