SINGAPORE – Markets here and across the region followed Wall Street’s lead overnight and adopted a defensive stance on April 25 as investors await key US inflation data.

The cautious mood left the Straits Times Index (STI) down 5.38 points, or 0.2 per cent, at 3,287.75 with losers beating gainers 311 to 271 across the broader market on trade of 1.5 billion securities worth $1.2 billion.

The STI’s decline was underpinned by almost half the components of the 30-stock blue-chip gauge closing in the red, including UOB, which went ex-dividend. Six counters were unchanged.

Keppel ended 3.5 per cent lower at $6.86, making it the worst-performing STI counter. The company reported lower revenue for the quarter ended March 31. It also went ex-dividend on April 25.

The global asset manager and operator posted a 6.3 per cent fall in revenue to $1.5 billion due to lower turnover from the real estate segment. Net profit for the quarter was also down, the firm said, without disclosing the numbers.

News that Malaysia is assessing opening a casino in Johor rattled Genting Singapore, which operates an integrated resort with a casino in Singapore. The stock fell 2.1 per cent to 92 cents.

Regional bourses were mixed after two key indexes on Wall Street eked out modest gains to keep the recent rebound ticking over after a week of red ink.

Tesla’s stock rocketed 12 per cent to drive the tech-focused Nasdaq up 0.1 per cent – its third straight day of gains. The S&P 500 added around the same, while the Dow Jones Industrial Average shed 0.1 per cent.

Regional bourses found few leads from Wall Street. Malaysian shares ended flat, but the Nikkei 225 in Tokyo dived 2.1 per cent amid the risk of government intervention to prop up the sliding yen.

The Kospi in Seoul dropped 1.8 per cent, while the Hang Seng in Hong Kong added 0.5 per cent.

The Australian market was closed for a holiday. THE BUSINESS TIMES