<div id="readability-page-1"><div>SINGAPORE – Elevated crude prices reined in the performance of Singapore shares on March 13 as the Strait of Hormuz – the passageway used for transportation of a fifth of the world’s oil – remains effectively shut.Both the Straits Times Index (STI) and iEdge Singapore Next 50 Index closed lower, by 13.06 points or 0.3 per cent at 4,842.27 points, and 0.1 per cent or 1.57 points at 1,443.55 points, respectively.The STI was 0.1 per cent lower than a week ago.Defence and technology powerhouse ST Engineering was the worst STI performer at $10.88, as it ended with a 2.4 per cent or $0.27 drop.DFI Retail Group was at the other end of the spectrum, having risen 4.2 per cent or US$0.19 to US$4.69.The banking trio all ended lower. OCBC closed 0.6 per cent or $0.12 lower at $20.63, and DBS inched down 0.1 per cent or $0.06 to $55.31. UOB dipped 0.2 per cent or $0.08 to $36.16. Satellite communications company Addvalue Technologies rose 2.5 per cent or $0.002 to $0.081 after the mainboard-listed company announced plans to unlock market value from its Inter-Satellite Data Relay System business.Decliners beat gainers 313 to 266 across the broader market, with 1.4 billion securities worth $1.8 billion transacted.Private banking and asset management group LGT said investors remained unsettled by the war in the Middle East as elevated oil prices – owing to the blockage of transportation through the effectively closed Strait of Hormuz – fanned inflation fears. THE BUSINESS TIMES</div></div>

Elevated crude prices impacted Singapore shares on March 13, with the Straits Times Index (STI) falling 0.3% to 4,842.27 points. ST Engineering was the worst performer, dropping 2.4%, while DFI Retail Group rose 4.2%. The banking sector also saw declines, with OCBC, DBS, and UOB all closing lower. Overall, decliners outnumbered gainers 313 to 266, with 1.4 billion securities traded. Investors remain concerned about inflation due to the ongoing conflict in the Middle East and the closure of the Strait of Hormuz, a key oil transport route.

Elevated crude prices rein in Singapore shares’ performance; STI down 0.3%