STI slips 0.1% on Tuesday ahead of US inflation data

SINGAPORE stocks closed lower on Tuesday (Nov 14) despite mostly positive trading in regional markets, as investors awaited the release of key inflation data in the US.

The benchmark Straits Times Index (STI) fell 0.1 per cent or 2.02 points to close at 3,104.66.

Singapore Airlines was among the top decliners on the index, slipping 1.6 per cent or S$0.10 to S$6.11.

The local banks also ended in the red on Tuesday. OCBC fell 0.2 per cent or S$0.02 to S$12.95, and UOB slipped 0.3 per cent or S$0.07 to S$27.33. DBS , which was trading on an ex-dividend basis, fell 1.7 per cent or S$0.57 to close at S$32.60.

Meanwhile, Genting Singapore was the day’s top index performer following stronger-than-expected third-quarter results released last Friday. The counter surged 10.6 per cent or S$0.09 to close at S$0.94, with 131.2 million shares worth S$120.9 million traded.

Across the broader market, gainers outnumbered losers 309 to 293 after 1.4 billion securities worth S$1.2 billion changed hands.

Seatrium was the most actively traded counter by volume, with 241.9 million shares worth S$26.2 million traded. The counter rose 0.9 per cent or S$0.001 to close at S$0.109.

Elsewhere in the region, stocks mostly closed higher ahead of US inflation data, set for release late on Tuesday. Key indices in Australia, Japan, South Korea and Malaysia rose between 0.3 per cent and 1.2 per cent.

SPI Asset Management managing partner Stephen Innes noted that investors were awaiting the US consumer price index data, and hoping to confirm that interest rates have peaked.

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US: Wall Street mixed ahead of key inflation data

“Many corners of Wall Street are coming to the idea of a soft landing, so consensus is now consolidated around that narrative,” he said.