Singapore shares drift down; bank stocks drag
SINGAPORE, April 25 (Reuters) - Singapore shares edged down on Friday, tracking losses in the broader Asian market, as investors took profits ahead of the weekend and escalating tensions in Ukraine weighed on sentiment.
The benchmark Straits Times Index fell 0.5 percent to 3,268.53, though it added 0.5 percent for the week. MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.7 percent.
ComfortDelgro Corp Ltd and Sembcorp Marine led the declines, edging down 1.9 percent and 1.5 percent respectively.
The losses also extended to banks, with the sector contributing most to the index's decline. Shares of UOB and DBS Group Holdings Ltd fell 1 percent and 0.5 percent, while OCBC stocks were up 0.1 percent.
"It's mostly profit-taking ahead of the weekend. We had a pretty strong reaction yesterday, so people are taking money off the table now," said Carey Wong, an analyst at OCBC Investment Research.
Among other stocks, shares of railway operator SMRT Corp Ltd added 0.8 percent at S$1.22, after stealing the spotlight on Thursday with a record 21.6 percent jump. The company said it was unaware of any reason to explain the surge in a statement issued after trading hours. (Reporting by Andrew Toh; Editing by Anand Basu)
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