Singapore shares slip lower on Tuesday amid regional decline; STI down 0.1%

SINGAPORE shares slipped lower on Tuesday (Oct 12) amid weaker global sentiment, following declines on Wall Street on Monday.

The benchmark Straits Times Index (STI) fell 0.1 per cent or 1.44 points to close at 3,112.05. The losses track major regional markets in Asia, with key indices in Australia, Japan, South Korea and Hong Kong falling between 0.3 per cent and 1.4 per cent on Tuesday

Oanda senior market analyst, Jeffrey Halley, noted that inflation nerves continue to rattle the markets with energy prices rising.

"US West Texas Intermediate's rise to 7-year highs spooked US equity markets overnight, with nerves increasing that the Q3 earnings season will contain tempered expectations for 2022," he said. "A wobbly earnings season could have the street looking for the exit door."

On the local bourse, Sembcorp Industries shares ended the day as the top STI gainer, climbing 1.6 per cent to close at S$1.91.

Singapore Exchange shares were also among the top gainers, climbing 1.5 per cent to close at S$9.61. The bourse said on Tuesday that total securities market turnover value rose 11 per cent on year to S$27 billion in September, the highest in 4 months, while the securities daily average value was also up 11 per cent on year at S$1.2 billion.

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The trio of local banks, which were among the most actively traded by value, closed lower on Tuesday. DBS shares dipped 0.4 per cent to close at S$30.13, UOB shares fell 0.7 per cent to close at S$26.14, and OCBC slipped 0.1 per cent to close at S$11.60.

Finishing at the bottom of the STI performance table on Tuesday was CapitaLand Integrated Commercial Trust, which fell 1 per cent to close at S$2.08.

Across the broader market, losers outnumbered gainers 247 to 205 on Tuesday, after 1.6 billion securities worth S$1.2 billion changed hands.