Singapore Market ends softer

The Singapore stock market closed lower for second straight session on Wednesday, 04 January 2023, as risk sentiments muted on tracking Wall Street's losses the day before and reports of surging infections in China.

At closing bell, the Straits Times Index (STI) index was down 3.34 points, or 0.1%, to 3,242.46 after trading between 3,238.70 and 3,256.37. Volume was 1.33 billion shares worth S$993.70 million changed hands. There were 286 gainers and 267 decliners.

The top performing stock in Straits Times Index was DFI Retail Group which rose 2.8%, while the bottom performing stock was Yangzijiang Shipbuilding, falling 6.3%.

The local banks were mostly higher. United Overseas Bank was down 0.8%, while Oversea-Chinese Banking Corp added 0.4%. DBS was up 0.4%.

In corporate news, ARA US Hospitality Trust shares gained nearly 3% after the company agreed to acquire a hotel in Colorado, US from CH Tenderfoot Hill for $29 million.

Oue Commercial REIT's shares rose 1%, as Hilton Singapore Orchard, the Hilton brand's flagship hotel in Singapore, reopened the 446-room Orchard Wing.

Aspial Lifestyle shares closed 3% higher, as its unit Maxi Cash (Malaysia) completed the acquisition of a majority stake in Malaysia-based Maxion Holdings from Ion World on Tuesday.

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