Singapore stocks end slightly higher on Tuesday; STI up 0.2%

THE Straits Times Index (STI) edged slightly up by 6.06 points or 0.2 per cent to 3,080.37 points on Tuesday, buoyed by overnight gains on Wall Street ahead of US August inflation data due later in the day.

Asian markets were mixed, as investors watched for the release of China's economic data on Sept 15.

The Nikkei 225 Index ended 0.7 per cent or 222.73 points higher at 30,670.10, the Kospi closed up 0.7 per cent or 20.97 points at 3,148.83, and the Jakarta Composite Index also rose 0.7 per cent or 40.94 points to 6,129.10. But the Hang Seng Index dropped 1.2 per cent or 311.58 points to 25,502.23 and the FTSE Bursa Malaysia KLCI closed 0.9 per cent or 14.62 points lower at 1,555.51.

"Focus may again be on China, where further reforms are made with potential consolidation of the electric vehicle industry and more regulations on internet companies," said IG market strategist Yeap Jun Rong. "That said, significant underperformance in the data may support expectations for the PBOC (People's Bank of China) to ease policy further, with a more targeted approach towards SMEs."

Decliners outnumbered advancers 243 to 217 in the Singapore market, with 1.48 billion shares worth S$905.8 million changing hands.

Frasers Logistics & Commercial Trust (FLCT) was the top advancer among the constituents of the blue-chip index, reversing from its position near the bottom of the STI's performance table on Sept 13. FLCT units closed 2.1 per cent or S$0.03 higher at S$1.49.

At the bottom of the table was Hongkong Land, which fell 2.5 per cent or US$0.12 to close at US$4.63.

The most heavily traded counter on the STI was Thai Beverage (ThaiBev), with 21.8 million shares traded. ThaiBev closed 0.8 per cent or half a Singapore cent lower at 66 cents.

The trio of local banks all closed higher. DBS ended 0.2 per cent or S$0.05 up at S$30.34, UOB was up 1.0 per cent or S$0.26 at S$25.83, and OCBC rose 0.2 per cent or S$0.02 to S$11.65.