Singapore's Shares Slide as Investors Await Corporate Earnings, US Fed Policy Cue

MT Newswires10-26 17:38

Singapore shares closed lower on Monday, mirroring regional losses as cautious investors stayed on the sidelines ahead of a critical week of major tech corporate earnings and the upcoming U.S. Federal Reserve interest rate decision.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 5,393.44 and 5,428.88 throughout the day. It ended the session at 5,415.91, down 6.25 points or 0.1% compared to Friday's close.

In economic news, Singapore's manufacturing output rose 3.4% year over year in September, slowing from 15.4% growth in August, according to preliminary data from the Singapore Economic Development Board.

On the corporate front, shares of Micro-Mechanics (SGX:5DD) surged over 5% at the close as it posted SG$6.4 million profit for the fiscal first quarter, compared with SG$3.2 billion a year ago.

Keppel (SGX:BN4) closed nearly 1% higher as it was appointed by Singapore's Economic Development Board to aggregate, import and sell up to 120 MW of biomethane in the city state for 15 years.

Meanwhile, OUE REIT (SGX:TS0U) was down over 1% at the close as its units were allocated around 50% stake in Salesforce Tower in Sydney, Australia, for around AU$461.4 million.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment