STI closes down by 0.08% as market stays muted ahead of earnings, economic data

The Straits Times Index (STI) slipped down by 2.61 points, or 0.08 per cent, to close at 3,288.95 points, erasing the previous day's 0.27-point increase.
The Straits Times Index (STI) slipped down by 2.61 points, or 0.08 per cent, to close at 3,288.95 points, erasing the previous day's 0.27-point increase. PHOTO: ST FILE

SINGAPORE - Local markets were quiet again on Tuesday (Oct 10), in another lacklustre day ahead of the expected rush of news in the later part of the week.

The Straits Times Index (STI) slipped down by 2.61 points, or 0.08 per cent, to close at 3,288.95 points, erasing the previous day's 0.27-point increase.

City Developments Limited was up by 10 cents, or 0.9 per cent, to S$11.85 on the news of a possible cash offer to consolidate its stake in Millennium & Copthorne Hotels.

Singapore Post shares also climbed by two cents, or 1.6 per cent, to S$1.275 after the opening of its SingPost Centre retail wing and General Post Office in Paya Lebar.

But Singapore Airlines fell for the second straight day, losing three cents, or 0.3 per cent, to S$10.19 as the national carrier failed to shake off the gloom over news of its cost-cutting initiatives.

Two of the three local banks also closed down - UOB by 14 cents, or 0.6 per cent, to S$24.22, and OCBC by three cents, or 0.3 per cent, to S$11.36.

But DBS bucked the trend and closed higher by three cents, or 0.1 per cent, at S$21.50.