STI closes 0.6% lower at 2,799.51

SINGAPORE (Sept 2): The Singapore market ended lower on Friday, with telcos taking the brunt of losses following the registration of interest of three contenders for a fourth mobile operator licence in Singapore.

As at 5.04pm, the key Straits Times Index (STI) was down 12.55 points or 0.45% at 2,803.92. About 1.13 billion shares with a value of $1 billion changed hands. Losers outnumbered gainers 194 to 155.

M1, the incumbent considered by analysts as most vulnerable to increase competition, fell 5.6% to $2.51, while StarHub and Singapore Telecommunications fell 4.4% and 2.5%, to $3.47 and $3.87 respectively

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