Market Commentary - Foreign Markets
Singapore Exchange Market falls 0.39% on US rate concerns As on : 11-Jun-24  15:49

The Singapore stock market finished session lower on Tuesday, 11 June 2024, extending yesterday selloff, as bets on early interest-rate cuts by the US Federal Reserve receded after strong US jobs figures

At closing bell, the Straits Times Index (STI) index was down 12.87 points, or 0.39% to 3,309.21 after trading between 3,303.24 and 3,332.60. Across the broader market, decliners outpaced advancers 332 to 257, with 1.45 billion securities worth S$1.14 billion changed hands.

Jardine Cycle & Carriage was the top constituent gainer for the day, rising 1.45% to S$27.29. CapitaLand Integrated Commercial Trust was the top decliner on the STI for the day, down 2.03% to S$1.93.

Banking stocks ended the day lower. Oversea-Chinese Banking Corp was down 0.28% at S$14.19 and United Overseas Bank sank 0.52% at S$30.57, while DBS Group Holdings added 0.22% to S$35.55.

ECONOMIC NEWS: The Business Sentiment Index in Singapore rose further in the third quarter as the wholesale sector saw slight improvements in optimism levels, according to a press release by the Singapore Commercial Credit Bureau (SCCB).

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