Singapore stocks fall 0.9% on Thursday as banks drag; Seatrium rises on earnings
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Singapore stocks fell 0.9% on Thursday, with the Straits Times Index closing at 4,964.38, primarily due to declines in banking stocks. DBS, OCBC, and UOB all ended lower. Seatrium was the top performer, rising 3.2% after reporting a significant increase in net profit. UOL was the worst performer, dropping 6.1%. Manufacturing output surged 16.6% year-on-year in January, but future production may decline due to the Chinese New Year holidays. Regional markets showed mixed results, with Hong Kong's Hang Seng Index down 1.4% and South Korea's Kospi up 3.7%.
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