Singapore Market falls on weak offshore cues

The Singapore stock market finished session lower on Thursday, 19 January 2023, as risk sentiments turned bearish on tracking losses on Wall Street overnight and weaker trading on other regional bourses after softer than expected U.S. consumer data rekindled global recession worries.

At closing bell, the Straits Times Index (STI) index was down 13.37 points, or 0.41%, to 3,276.18 after trading between 3,271.87 and 3,290.25. Volume was 916.62 million shares worth S$868.40 billion changed hands. There were 274gainers and 239 decliners.

The top performing stock in Straits Times Index was DFI Retail Group which rose 2.6% to US$3.15, while the bottom performing stock was Wilmar International, falling 1.7% to US$4.07.

The local banks were lower. United Overseas Bank was down 0.4% to S$29.29, while Oversea-Chinese Banking Corp dropped 0.8% to S$12.59 and DBS was down 1.4% at S$34.53.

Shares in the Asia-Pacific traded mixed on Thursday after tracking losses on Wall Street overnight. Japan's Nikkei 225 traded down 1.44% to close at 26,405.23, after Japan recorded another trade deficit for December. South Korea's Kospi inched up 0.51% to close at 2,380.34. Australia's S&P/ASX 200 was up 0.57% to 7,435.3. Hong Kong's Hang Seng index fell 0.48%. Mainland China's Shanghai Composite climbed 0.49% to 3,240.28.

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