Singapore Shares Dip Ahead of Key US Inflation Data; NIO Drops 3%; Yangzijiang Shipbuilding Gains 2%

MT Newswires2024-12-11

Singapore's stock market fell on Wednesday following weak trade figures from China, while investors await key US inflation data.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,790.23 and 3,815.93 throughout the day. It ended the session at 3,792.82, down 20.73 points or 0.54% compared to Tuesday's close.

In economic news, Singapore's economy is expected to grow 3.6% this year, up from a previous forecast of 2.6% expansion, led by the manufacturing and wholesale & retail trade sectors, according to a survey conducted by the Monetary Authority of Singapore.

In company news, shares of ASL Marine (SGX:A04) were up nearly 5% after the marine and offshore company exited from the watch-list of the Singapore Exchange, effective Wednesday.

Wilton Resources (SGX:5F7) closed flat on Wednesday, as the company revealed that it had suspended operations at its Ciemas Gold Project in Indonesia due to severe rainfall linked to La Niña.

Meanwhile, shares of Singapore Exchange (SGX:S68) were down nearly 1% after it reported that the total securities market turnover value was up 51% year on year in November to SG$30.2 billion, driven by robust trading across all major industries.

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