S'pore stocks fall for fifth straight day amid mixed regional trading

Local shares made it five consecutive days of decline yesterday ahead of key inflation data from the United States that may trigger even more volatility in global markets.

The benchmark Straits Times Index (STI) fell 0.7 per cent or 21.81 points to close at 3,083.19 with losers leading gainers 333 to 203 in the broader market on trade of 1.5 billion shares worth $1.3 billion.

Oanda senior market analyst Craig Erlam noted that investors would be keeping an eye on the US this week, with Federal Reserve meeting minutes, inflation data and the start of earnings season likely to be primary drivers.

"Any hope of a helping hand from the Fed minutes may not be forthcoming, with the commentary to an extent outdated at this point and policymakers seemingly unified in their goal of defeating inflation," he said.

"Even a good (inflation) number tomorrow may do little to change that in the near-term."

Jardine Cycle & Carriage led the STI decliners, slipping 3.6 per cent to close at $32.69. Sats, City Development and Wilmar International were also among the top losers, falling by between 2.5 and 2.7 per cent.

Just three index stocks ended higher, including DBS Bank, which rose 0.5 per cent to $33.46 and UOB, up 0.3 per cent to $26.39. OCBC Bank fell 0.6 per cent to $11.70.

A mixed session on Wall Street overnight - the S&P 500 was down 0.6 per cent, the Nasdaq dropped 1.1 per cent into bear territory while the Dow Jones Industrial Average inched up 0.1 per cent - set the stage for a mixed performance across the region.

Stocks in Shanghai rose 1.5 per cent while the Kospi in South Korea added 0.5 per cent but key indexes in Hong Kong, Jakarta and Kuala Lumpur slipped by between 0.4 and 0.8 per cent.

Australian shares closed flat with all sectors except for banks and property declining. Japan also ended the day flat.