Singapore Shares Decline Despite Positive Manufacturing Data; OCBC Drops 2%; SBS Transit Jumps 10%

MT Newswires

26 Feb

Singapore's stock market declined on Wednesday, despite increased manufacturing output in January, with US stocks falling overnight following lower consumer confidence data.

The Straits Times Index, a key benchmark for the Singapore Exchange, ranged between 3,896,06 and 3,928.75 throughout the day. It ended the session at 3,908.05, down 7.82 points or 0.2% compared to Tuesday's close.

In economic news, Singapore's manufacturing output increased 9.1% year-on-year in January 2025, mainly driven by strong performance from the electronics cluster, according to data released by EDB Singapore.

In company news, shares of SBS Transit (SGX:S61) were up nearly 10% after its attributable profit to shareholders for the second half of 2024 was up 6.8% to SG$36.06 million from SG$34.3 million a year earlier.

Pacific Century Regional Developments (SGX:P15) shares were up over 4% after it booked an attributable profit to equity holders of SG$1.8 million during the second half of the year, against an attributable loss of SG$3.2 million a year earlier.

Meanwhile, shares of Oversea-Chinese Banking (SGX:O39) were down over 2% after the bank's attributable profit to equity holders rose to SG$3.66 billion during the second half of 2024 from SG$3.43 billion a year earlier.

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