STI advances 1% ahead of crucial US inflation data

SINGAPORE shares rose on Tuesday (Dec 13) ahead of a nail-biting inflation data release out of the US and overnight gains on Wall Street.

The key Straits Times Index (STI) advanced 31.62 points or 1 per cent to 3271.28, alongside regional peers that put up a mixed showing. Key gauges in China, Taiwan, Malaysia, South Korea and Australia finished lower, while Japan and Hong Kong saw gains.

US key consumer price index (CPI) inflation data for November is set to be released on Tuesday, with traders hoping that the digits would be mellow enough for the US Federal Reserve (Fed) to step back on aggressive interest rate hikes given recessionary pressures. The European Central Bank, the Bank of England, and the Swiss and Norway central banks are also set to make policy decisions this week, which are deemed high-risk events for equities.