Singapore stocks see muted trading as caution reigns ahead of key data
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In the wider Singapore market, gainers outnumbered losers 305 to 256, with 1.4 billion securities worth $800 million traded.
PHOTO: ST FILE
Jude Chan
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SINGAPORE – The Straits Times Index (STI) rose 3.4 points, or 0.1 per cent, to close at 3,297.83 points on Tuesday, as most key Asian markets registered gains.
In the wider Singapore market, gainers outnumbered losers 305 to 256, with 1.4 billion securities worth $800 million traded.
The way IG market analyst Yeap Jun Rong sees it, market sentiment remained in a “cautious wait-and-see mode”, with the United States consumer price index and the Federal Open Market Committee meeting minutes lined up
“Market participants will also have their eyes on China’s inflation figures. With some dampening of reopening optimism recently, a revival in pricing pressures will be on watch to support stronger economic prospects in China,” he said.
Ground handler and in-flight caterer Sats was the top performer on the benchmark index. The counter continued its recent rally, closing 1.8 per cent, or five cents, higher at $2.83 on Tuesday.
At the bottom of the table was DFI Retail Group, which lost 1.3 per cent, or four US cents, to finish at US$3.05.
Genting Singapore was the most actively traded constituent stock. The integrated resort operator fell 0.9 per cent, or one cent, to $1.16 after 36.1 million shares changed hands.
The trio of local lenders all finished higher. OCBC Bank rose 0.5 per cent, or six cents, to $12.79, DBS Bank gained 0.3 per cent, or eight cents, to $32.47, and UOB climbed 0.4 per cent, or 13 cents, to $30.06.
Elsewhere in Asia, South Korea’s Kospi Composite Index jumped 1.4 per cent after the Bank of Korea held rates steady for the second straight meeting.
Meanwhile, Japan’s Nikkei 225, Hong Kong’s Hang Seng Index, and the FTSE Bursa Malaysia KLCI gained between 0.5 per cent and 1.1 per cent. THE BUSINESS TIMES
