Singapore stocks join global slump; Realty stocks drag

The dollar extended losses as major central banks around the globe signaled an end to easy money.

Picture for representation
People pass an SGX Singapore Exchange logo outside its premises in Singapore's central business district. Reuters

Singapore equities fell on Friday, tracking a selloff in Asian and U.S. stocks as the quarter draws to a close.

The MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent after hitting a two-year high on Thursday.

Overnight, the tech-heavy Nasdaq led declines on Wall Street with a 1.4 percent loss. The Nasdaq is poised to post a 0.9 percent loss for the month but is still up 14 percent this year.

The dollar extended losses as major central banks around the globe signalled an end to easy money and need for the rate increase.

At 06:06 GMT, the Straits Times Index fell 0.63 percent or 21 points to 3,238. It ended 1.34 percent higher on Thursday, taking the year-to-date gains to 13 percent.

Among the laggards, United Overseas Bank and DBS Group Holdings fell 1.4 percent and 0.5 percent, respectively.

Real estate companies like City Developments and UOL Group declined 1.8 percent and 3.3 percent, respectively.

The gainers included soyabean supplier United Food Holdings, which jumped nearly 20 percent. Construction company Tiong Seng Holdings surged 36 percent.

About 998 million shares worth S$685 million changed hands, with losers outnumbering gainers 253 to 111.