STI slips 0.1% on Tuesday ahead of US inflation data
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The benchmark Straits Times Index fell 0.1 per cent or 2.02 points to close at 3,104.66.
PHOTO: ST FILE
Raphael Lim
SINGAPORE – Shares in Singapore closed lower on Tuesday despite mostly positive trading in regional markets, as investors awaited the release of key inflation data in the United States.
The benchmark Straits Times Index (STI) fell 2.02 points, or 0.1 per cent, to close at 3,104.66.
Singapore Airlines was among the top decliners on the index, slipping 10 cents, or 1.6 per cent, to $6.11.
The local banks also ended in the red. OCBC Bank fell two cents, or 0.2 per cent, to $12.95, and UOB slipped seven cents, or 0.3 per cent, to $27.33.
DBS Bank, which was trading on an ex-dividend basis, fell 57 cents, or 1.7 per cent, to close at $32.60.
Meanwhile, Genting Singapore was the day’s top index performer following stronger-than-expected third-quarter results released last Friday. The counter surged nine cents, or 10.6 per cent, to close at 94 cents, with 131.2 million shares worth $120.9 million traded.
Across the broader market, gainers outnumbered losers 309 to 293, with 1.4 billion securities worth $1.2 billion changing hands.
Seatrium was the most actively traded counter by volume, with 241.9 million shares worth $26.2 million traded. The counter rose 0.1 cent, or 0.9 per cent, to close at 10.9 cents.
Elsewhere in the region, stocks mostly closed higher ahead of US inflation data, set for release late on Tuesday.
Key indexes in Australia, Japan, South Korea and Malaysia rose between 0.3 per cent and 1.2 per cent.
SPI Asset Management managing partner Stephen Innes noted that investors were awaiting the US consumer price index data, and hoping to confirm that interest rates have peaked.
“Many corners of Wall Street are coming to the idea of a soft landing, so consensus is now consolidated around that narrative,” he said. THE BUSINESS TIMES
