SINGAPORE — The Straits Times Index barely blinked on Friday — and that is exactly why the 8.5% wipeout in DFI Retail Group stands out.
The benchmark STI lost 0.08%, or 4.41 points, to close at 5,656.11, according to The Business Times. Among STI constituents, DFI Retail was the worst performer, falling 8.5%, or US$0.29, to US$3.12. Hongkong Land led the gainers, rising 2.6%, or US$0.22, to US$8.64.
The three local banks finished mixed. OCBC rose 0.3%, or S$0.10, to S$31.38; DBS slipped 0.1%, or S$0.08, to S$76.86; and UOB finished 0.2%, or S$0.10, lower at S$41.78. The iEdge Singapore Next 50 eased 0.03% to 1,498.02.
Breadth was still constructive under the surface. Across the broader market, gainers outnumbered losers 303 to 273 after 1.8 billion securities worth S$3.2 billion changed hands.
Regional tapes diverged. Hong Kong’s Hang Seng gained 0.6%, Japan’s Nikkei 225 rose 1.4%, South Korea’s Kospi jumped 2.7%, while Malaysia’s KLCI declined 0.5%. BT also flagged the Bank of Japan rate hike as a global funding watchpoint. Nigel Green, chief executive of deVere Group, said every basis point the BoJ adds makes it “more attractive for Japanese money to come home instead of funding US and European markets,” warning that if the shift accelerates, “borrowing costs everywhere get more expensive” — “a global funding story now,” and “a moment for genuine scrutiny of portfolio exposure rather than panic.”
Bottom line: A −0.08% STI close can look calm — the DFI Retail −8.5% print is the real tell for stock-pickers, with banks mixed and Asia’s other benchmarks still pulling in different directions.
— WWC NEWSDESK
