SINGAPORE shares are back in the red for the year after a decline of 1.4 per cent on Tuesday.

The Straits Times Index (STI) lost 44.58 points to 3,128.75. It is now down 38.33 points or 1.2 per cent from last year's close.

The local market had given up all of this year's gains in June as investors fretted over the possible slowing down of money-printing from the United States.

July's rebound took it back into the black, before the latest round of fears - also over the likely impending slowdown of the printing presses - took the STI into negative territory for 2013.

Tuesday's loss was also the fourth straight decline for the local market.

Decliners on the STI included Jardine Cycle & Carriage, down $1.67 or 4.3 per cent to $36.74.

Across the bourse, there were only 79 risers, but 361 counters that lost value.