Singapore equities ended the week on a tepid note, tracking mixed global stocks, with crude oil poised for a fifth straight week of declines.
The Straits Times Index fell 0.2 per cent or 6 points to 3,209. It ended 0.43 per cent higher on Thursday, taking the year-to-date gains to 11.6 percent. Among the gainers, commodities trader Noble Group surged 16.5 per cent after an Arab-linked group bought a substantial stake in the beleaguered firm.
The losers included property firms UOL and UIC, which fell 1 per cent each after announcing a share swap deal. Global Logistic Properties declined 5.3 per cent and hospitality group Genting Singapore dropped 1.8 per cent.
About 1.5 billion shares worth S$1.1 billion changed hands, with losers outnumbering gainers 219 to 166. World stocks were mixed while safe haven gold rose for a third day, with oil remaining below $43 a barrel. European shares fell 0.2 per cent while MSCI's gauge of world stocks rose 0.1 per cent.
Investors' focus will now shift to Brexit negotiations with U.K. Prime Minister Theresa May set make a statement to the British parliament on Monday, divulging details of her proposal to safeguard the residency rights of European citizen who currently live in the U.K.
