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".