SINGAPORE - The Straits Times Index (STI) edged up 0.1 per cent or 4.52 points on Tuesday to finish at 3,145.83, amid mixed trading in Asia following the “warning signs” of China’s weaker-than-expected trade data for October.
Japan’s Nikkei 225 climbed 1.3 per cent and South Korea’s Kospi gained 1.2 per cent, while Hong Kong’s Hang Seng Index fell 0.2 per cent and the FTSE Bursa Malaysia KLCI dipped 0.1 per cent.
In the wider Singapore market, losers outnumbered gainers 288 to 220, with 1.65 billion shares worth $1.11 billion changing hands.
In US dollar terms, China’s exports in October shrank 0.3 per cent year on year, against a 5.7 per cent gain in September. The contraction surprised analysts, who had expected 4.5 per cent growth in a Bloomberg survey.
“It was the first decline in export growth since May 2020, and might point to a turning point of deceleration in exports as the global economy slowed,” said Saxo market strategist Charu Chanana, adding that Asian economic data is “sending some warning signs”.
The top performer among the STI constituents was CapitaLand Investment, which rose 3.4 per cent or 11 cents to close at $3.35.
At the bottom of the table was Sembcorp Industries, which fell 3.2 per cent or 10 cents to $3.01.
The most actively traded STI counter was Yangzijiang Shipbuilding, which finished 1.6 per cent or two cents higher at $1.28 with 34.1 million shares traded.
The trio of local banks all finished higher. DBS rose 0.5 per cent or 16 cents to $34.59, UOB climbed 1.2 per cent or 35 cents to $28.85 and OCBC Bank gained 0.2 per cent or three cents to $12.15. THE BUSINESS TIMES
