Singapore Market ends lower

The Singapore stock market finished lower for second straight session on Wednesday, 07 December 2022, as recession rhetoric from major US banks, growing anxious about the outlook for US interest rates, and disappointed China trade spread negative sentiment among investors.

At closing bell, the Straits Times Index (STI) index was down 26.92 points or 0.83% to 3,225.45 after trading between 3,225.45 and 3,252.25. Volume was 1.53 billion shares worth S$1.12 billion changed hands. There were 227 gainers and 319 decliners.

The top performing stock in Straits Times Index was Hongkong Land which rose 2.6%, while the bottom performing stock was CapitaLand Investment, falling 3.8%.

The local banks were lower. DBS declined 1.5%, and UOB dropped 0.8. OCBC Bank closed 0.16% down.

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