The consumer price index (CPI) report for February will be released on March 12. Later in the week, investor attention will turn to the producer-focused index. The two releases are among the last major economic reports expected before Federal Reserve leaders convene for their March policy meeting.
At closing bell, the Straits Times Index (STI) index was up marginal 3.05 points, or 0.1% to 3,141.47 after trading between 3,138.42 and 3,153.69. Volume of 1.52 billion shares worth S$981.50 million changed hands. Across the broader market, advancers outpaced decliners 338 to 232.
Consumer goods conglomerate Jardine Matheson was the top constituent gainer for the day, rising 4.5% to US$40.84. Shipbuilder Yangzijiang Shipbuilding was the top decliner on the STI for the day, down 3.74% to S$1.80.
Banking stocks ended the day mixed. DBS Group Holdings fell 0.3% to S$33.50 and Oversea-Chinese Banking Corp was down 0.53% at S$13.09. United Overseas Bank was up 0.03% at S$28.28.
Shares of iX Biopharma rose more than 2% on Tuesday's close, after the company added a new drug candidate, iXB 401, to its pharma development pipeline.
In economic news, Singapore's business optimism index rose to 4.82 percentage points for the second quarter of 2024, higher than the 4.48 percentage points in the first quarter, according to data from the Singapore Commercial Credit Bureau.
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