Muted trading for Singapore stocks as caution reigns ahead of key data; STI up 0.1%

THE Straits Times Index (STI) rose 3.4 points or 0.1 per cent to close at 3,297.83 points on Tuesday (Apr 11), as most key Asian markets registered gains.

In the wider Singapore market, gainers outnumbered losers 305 to 256, with 1.4 billion securities worth S$800 million traded.

The way IG market analyst Yeap Jun Rong sees it, market sentiment remained in a “cautious wait-and-see mode”, with the US consumer price Index and Federal Open Market Committee minutes lined up on the calendar this week.

“Market participants will also have their eyes on China’s inflation figures. With some dampening of reopening optimism recently, a revival in pricing pressures will be on watch to support stronger economic prospects in China,” he said.

Ground handler and in-flight caterer Sats was the top performer on the benchmark index. The counter continued its recent rally, closing 1.8 per cent or S$0.05 higher at S$2.83 on Tuesday.

At the bottom of the table was DFI Retail Group , which lost 1.3 per cent or US$0.04 to finish at US$3.05.

Genting Singapore was the most actively traded constituent stock. The integrated resort operator fell 0.9 per cent or S$0.01 to S$1.16 after 36.1 million shares changed hands.

The trio of local lenders finished higher. OCBC rose 0.5 per cent or S$0.06 to S$12.79, DBS gained 0.3 per cent or S$0.08 to S$32.47, and UOB climbed 0.4 per cent or S$0.13 to S$30.06.

Elsewhere in Asia, South Korea’s Kospi Composite Index jumped 1.4 per cent after the Bank of Korea held rates steady for the second straight meeting.

SEE ALSO

Singapore stocks open lower on Tuesday; STI down 0.1%

Asia: Markets track higher as investors await US inflation data

Meanwhile, Japan’s Nikkei 225, Hong Kong’s Hang Seng Index, and the FTSE Bursa Malaysia KLCI gained between 0.5 per cent and 1.1 per cent.