Singapore Market ends in the red

The Singapore stock market finished session slightly lower on Tuesday, 06 February 2024, extending yesterdays losses, on tracking soft lead from Wall Street overnight, as Treasury yields picked up on concerns over the timing of interest rate cuts this year. Market declines led by shares in banks and financials companies.

At closing bell, the Straits Times Index (STI) index was down 8.61 points, or 0.27%, to 3,125.68 after trading between 3,120.05 and 3,132.33. Volume of 1.30 billion shares worth S$1.12 billion changed hands. Across the broader market, advancers outpaced decliners 332 to 255.

The STIs biggest gainer was Venture Corp, rising 1.76% to S$13.91, while the biggest decliner was Sembcorp Industries, down 1.9% to S$5.56.

Banking stocks ended the day lower, with shares of DBS Group Holdings falling 0.63% to S$31.65 and Oversea-Chinese Banking Corp erasing 0.23% at S$12.78. United Overseas Bank was down 0.8% at S$28.17.

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