SINGAPORE equities got off to a bright start, opening 0.8 per cent higher as Washington delayed tariffs on some Chinese imports to December but disappointing Chinese economic data meant that the relief rebound eased off as Wednesday's session wore on.
Elsewhere in the Asia-Pacific, shares in Australia, China, Hong Kong, Japan, Malaysia and South Korea all ended higher but like the local market, early gains trimmed as the session progressed. Singtel, which dipped two Singapore cents or 0.6 per cent to finish at S$3.16, was the benchmark index's most traded stock with 15.3 million shares changing hands. The telco's shares have fallen 4.8 per cent since posting a 35 per cent drop in net profit for Q1 last Thursday.
Wilmar International shed S$0.19 or 4.7 per cent to end at S$3.86. The agribusiness firm reported on Tuesday that Q2 net profit halved, missing street estimates, as the African swine fever in China affected demand for soybean meal, in turn hurting crush margins.
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