Singapore Market ends lower

The Singapore stock market finished session lower on Tuesday, 06 December 2022, joining regional decline, as concerns over a hawkish Federal Reserve amplified by stronger-than-expected economic data.

Data released on Monday showed U.S. services industry activity unexpectedly picked up in November following a robust U.S. payrolls report published Friday - all of which raised doubts over whether the Fed would continue raising interest rates decisively.

At closing bell, the Straits Times Index (STI) index was down 18.43 points or 0.56% to 3,249.11 after trading between 3,244.73 and 3,265.28. Volume was 1.39 billion shares worth S$1.21 billion changed hands. There were 244 gainers and 271 decliners.

The top performing stock in Straits Times Index was DFI Retail Group which rose 5%, while the bottom performing stock was Keppel Corp, falling 2.2%.

The local banks were mostly lower. DBS and UOB were up 1.5% and 0.7% respectively. OCBC shares rose 0.2%.

ECONOMIC NEWS: Singapore Retail Sales Rise 10.4% On Year In October- Singapore's retail sales growth continued to ease in October, data from the Department of Statistics showed. Retail sales rose 10.4% year-on-year in October, after an 11.3% growth in September. On a monthly basis, retail sales rose a seasonally adjusted 0.1% in October, after a 3.2% increase in the prior month.

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