Singapore Stocks Trade at Over 3-Month Low
The Straits Times Index (STI) fell 25 points, or 0.5%, to 5,387 in Tuesday morning trade, extending losses from the previous session, mainly weighed down by the tech, finance, non-energy minerals, and producer manufacturing sectors. The broader index declined to its lowest level since July 8, amid caution ahead of the release of September inflation data due this week, with the market expecting inflation to remain steady at 2.3%, its highest level since July 2024. High inflation has raised expectations of monetary policy tightening, though the Monetary Authority of Singapore left monetary policy unchanged last week after back-to-back moves in April and July. However, an upbeat session on Wall Street overnight capped the decline as the tech selloff eased. Among the biggest laggards were Yangzijiang Shipbuilding Holdings (-2.3%), Hongkong Land (-1.6%), OCBC (-1.2%), Wilmar International (-1.2%), and UOB (-0.7%).
The Straits Times Index (STI) fell 25 points, or 0.5%, to 5,387 in Tuesday morning trade, extending losses from the previous session, mainly weighed down by the tech, finance, non-energy minerals, and producer manufacturing sectors. The broader index declined to its lowest level since July 8, amid caution ahead of the release of September inflation data due this week, with the market expecting inflation to remain steady at 2.3%, its highest level since July 2024. High inflation has raised expectations of monetary policy tightening, though the Monetary Authority of Singapore left monetary policy unchanged last week after back-to-back moves in April and July.
However, an upbeat session on Wall Street overnight capped the decline as the tech selloff eased. Among the biggest laggards were Yangzijiang Shipbuilding Holdings (-2.3%), Hongkong Land (-1.6%), OCBC (-1.2%), Wilmar International (-1.2%), and UOB (-0.7%).