Singapore Market ends 0.36% down

The Singapore stock market closed lower on Friday, 23 December 2022, as concerns mounted that China's unprecedented Covid-19 outbreaks will dent the nation's growth outlook. Meanwhile, concerns over a hawkish U.S. Federal Reserve also dragged on markets.

At closing bell, the Straits Times Index (STI) index was down 11.83 points or 0.36% to 3,257.70 after trading between 3,250.16 and 3,261.99. Volume was 730.59 million shares worth S$483.90 million changed hands. There were 222 gainers and 282 decliners.

The top performing stock in Straits Times Index was Singapore Airport Terminal Services which rose 1.06%, while the bottom performing stock was Hongkong Land, falling 1.93%.

The local banks were mostly lower. United Overseas Bank fell 0.83% and DBS was down 0.67%, while Oversea-Chinese Banking Corp added 0.5%.

ECONOMIC NEWS: Core consumer prices in Singapore rose in November at a pace that was unchanged from the previous month. Core inflation, which excludes costs of private transport and accommodation and reflects the expenses of Singapore households more accurately, came in at 5.1% year on year.

Singapore's manufacturing output shrank at a faster rate in November, down 3.2% from a year earlier. It extended the decline in October, when manufacturing output contracted by a revised 0.9%, snapping a year of growth. Excluding volatile biomedical manufacturing, output fell 4.8% year on year, according to data released by the Economic Development Board on Friday.

Powered by Capital Market - Live News