Singapore shares decline on bearish global sentiment

The benchmark Straits Times Index (STI) fell 0.1 per cent to close at 3,112.05. ST PHOTO: KELVIN CHNG

SINGAPORE (THE BUSINESS TIMES) - Singapore shares slipped lower on Tuesday amid weaker global sentiment, following declines on Wall Street on Monday.

The benchmark Straits Times Index (STI) fell 0.1 per cent to close at 3,112.05.

The losses track major regional markets in Asia, with key indexes in Australia, Japan, South Korea and Hong Kong falling between 0.3 per cent and 1.4 per cent on Tuesday.

Oanda senior market analyst Jeffrey Halley noted that inflation nerves continue to rattle the markets with energy prices rising. "US West Texas Intermediate's rise to seven-year highs spooked US equity markets overnight, with nerves increasing that the Q3 earnings season will contain tempered expectations for 2022," he said. "A wobbly earnings season could have the street looking for the exit door."

On the local bourse, Sembcorp Industries shares ended the day as the top STI gainer, climbing 1.6 per cent to close at $1.91.

Singapore Exchange shares were also among the top gainers, climbing 1.5 per cent to close at $9.61. The bourse said on Tuesday that total securities market turnover value rose 11 per cent on year to $27 billion in September, the highest in four months, while the securities daily average value was also up 11 per cent on year at $1.2 billion.

The trio of local banks, which were among the most actively traded by value, closed lower.

DBS shares dipped 0.4 per cent to close at $30.13, UOB shares fell 0.7 per cent to close at $26.14, and OCBC slipped 0.1 per cent to close at $11.60.

Finishing at the bottom of the STI performance table was CapitaLand Integrated Commercial Trust, which fell 1 per cent to close at $2.08.

Across the broader market, losers outnumbered gainers 247 to 205, after 1.6 billion securities worth $1.2 billion changed hands.

Follow ST on LinkedIn and stay updated on the latest career news, insights and more.