Singapore stocks track lower for second consecutive day, STI down 1%

LOCAL shares declined further on Tuesday (Apr 12) amid concerns about the usual suspects - global interest rates, inflation levels, the war between Russia and Ukraine, as well as the pandemic outbreak in Shanghai.

In Singapore, the benchmark Straits Times Index fell 1 per cent or 33.31 points to 3,330.25, marking the second consecutive day of red ink this week. Across the broader market, decliners outnumbered advancers 264 to 200, after some 1.6 billion securities worth a total of S$1.2 billion changed hands.

In a recent note, Principal Global Investors urged investors to consider the impact of rising rates on their portfolios, and to not "dwell too much on day-to-day Fed headlines".

"Despite the tumultuous start to the year, markets are yet again displaying signs of resiliency to another correction. For investors, who are now adjusting to a faster pace of Fed tightening and balance sheet reductions, it's important to stay invested and not overreact to short-term events."

A number of the stock markets across the region also ended the day with losses. The Nikkei 225 fell 1.8 per cent; the KLCI was down 0.5 per cent, and the Kospi shed 1 per cent. The ASX 200 also fell 0.4 per cent.

The Hang Seng Index Index and SSE Composite Index bucked the trend, adding 0.5 per cent and 1.5 per cent respectively.

On the local bourse, tech play AEM Holdings AWX was one of the top advancers. The counter gained 1.9 per cent or S$0.09 to S$4.82. First Resources EB5 was another top gainer, rising 4 per cent or S$0.08 to S$2.10.

DBS D05 was the biggest decliner, shedding 2.4 per cent or S$0.81 to S$33.24. Other lenders were also among the top losers. UOB U11 lost 1.3 per cent or S$0.40 to S$31.10, and OCBC O39 fell 1.1 per cent or S$0.13 to S$12.01.

Sembcorp Marine S51 was the most heavily traded counter on Tuesday, with some 174.8 million shares changing hands. The stock closed at S$0.109, up 2.8 per cent or S$0.003.

Other actively traded counters included Tritech Group 5G9 , Oceanus Group 579 and Yangzijiang Shipbuilding BS6 .