At closing bell, the Straits Times Index (STI) index was down 6.89 points, or 0.21% to 3,323.20 after trading between 3,322.92 and 3,333.86. Across the broader market, decliners outpaced advancers with 311 to 255, with 1.37 billion securities worth S$1.30 billion changed hands.
The biggest gainer on the STI was Yangzijiang Shipbuilding, up 10.55% to S$2.20. Jardine Cycle & Carriage was the worst performer on the STI for the day, down 4.88% to S$1.34.
In economic news, Singapore Producer Price Inflation Accelerates In April- Singapore's producer price inflation accelerated in April amid an increase in both the oil and the non-oil index, data from the Department of Statistics showed on Wednesday. The manufacturing producer price index climbed 3.2% year-on-year in April, faster than March's 2.3% rise. The non-oil index rose 2.8% annually in April, and the oil index showed an increase of 5.4%. Domestic supply prices were 0.1% lower in April than a year ago, following a 2.0% decline in the prior month. On a monthly basis, producer prices increased at a stable rate of 0.3%. The import price index fell at a slower pace of 1.7% over the year, following a 4.0% decrease in the previous month. Data showed that export prices declined 0.5% annually in April, slower than the 2.2% drop a month ago.
Singapore's Domestic Supply Price Index Falls 0.1% YoY in April 2024- In April 2024, Singapore's Domestic Supply Price Index declined by 0.1% year-on-year, marking the fourth consecutive month of decreases, albeit at a slower rate. On a monthly basis, prices rebounded by 1.8% following a 0.4% drop in March.
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