Singapore stocks slid on Wednesday morning, echoing similar movements in Asian markets elsewhere that were spooked by political uncertainties.
The benchmark Straits Times Index dipped 0.42 per cent, or 13.14 points, to 3,124.40 as at 9.01am.
Some 39.8 million shares worth S$70.2 million were traded. Losers beat gainers 73 to 49, or about six losers for every four gainers.
DBS and UOB were among the top losers. TIH Limited, a closed-end fund, and mosquito repellent maker Haw Par Corporation were some of the biggest gainers.
The STI's early retreat followed what other Asian markets were seeing. Equity indices in Japan, Australia and South Korea all fell after the S&P 500 Index slid for the fourth time in five sessions, Bloomberg reported.
Safe havens stayed in favour as gold and bonds climbed ahead of presidential elections in France and on escalating tensions between the US and North Korea, Reuters reported.
The following companies may affect their share price on Wednesday
CapitaLand Commercial Trust: For the first quarter of financial year 2017, the trust manager reported a higher distribution per unit at 2.40 Singapore cents. Net property income grew by 34.3 per cent to S$69.9 million, while gross revenue increased by 33.9 per cent to S$89.5 million.
Distributable income rose 9.9 per cent to S$71.3 million. It also reported that it has gained initial approval from the authorities for its plans to redevelop Golden Shoe Car Park.
Ezra Holdings: The offshore support provider's noteholders want the founding Lee family behind the debt-laden listed group to consider a rights issue as a restructuring plan is being drawn up for its Chapter 11 filing under the US bankruptcy code.
Healthway Medical Corporation: Ahead of the private healthcare provider's extraordinary general meeting to vote on the second tranche of S$60 million convertible notes, some minority shareholders have raised concerns whether private-equity fund Gateway Partners is there to make a quick buck at their expense.
More Valuable Singapore Stocks of the Day:
- SINGTEL
- SINCAP
- WILMAR INTL
- TT INTL
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