OCBC Investment Research has maintained"hold" on SembMarine's stock, with a lower fair value estimate of S$1.50 from a previous estimate of S$1.60, recommending investors wait for clarity on the matter.Among active index stocks on the Singapore Exchange, Singtel held steady at S$3.50; Suntec Real Estate Investment Trust was up 1.5 per cent or S$0.03 to S$1.98.
Banking stocks were trading weaker, with DBS Group Holdings fell 1.4 per cent or S$0.38 to S$26.12; United Overseas Bank was down 0.6 per cent or S$0.17 to S$26.38; and OCBC Bank was down 0.4 per cent or S$0.05 to S$11.49. Elsewhere in Asia, Shanghai was one of the biggest losers, down 1 per cent, while Hong Kong was down 0.3 per cent, and Tokyo lost 0.7 per cent by the break. Seoul also fell 0.8 per cent, while Taipei gave up 1 per cent. Sydney meanwhile, was up 0.4 per cent. Oil prices also inched up slightly following data observing another drop in US stockpiles.
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