Singapore Market edges up ahead of U.S. midterm elections

9 Nov 2022 , 05:44 PM

The Singapore stock market finished choppy session higher on Wednesday, 09 November 2022, as risk sentiments underpinned on tracking positive lead from Wall Street overnight, with investors awaiting U.S. inflation data as well as the results of the U.S. midterm elections that could signify a power shift in Washington. At closing bell, the Straits Times Index (STI) index advanced 19.67 points or 0.63% to 3,165.50 after trading between 3,143.81 and 3,169.45. Volume was 1.61 billion shares worth S$1.10 billion. There were 323 gainers and 213 decliners. Data centre firm Keppel DC Reit was the top performer among Singapores blue-chip stocks, gaining 3.5% to S$1.76. At the bottom of the table was Hongkong Land – part of the Jardine Matheson Group – which fell 1.2% to US$4.13. Local lenders all ended higher. DBS edged up 0.2% to S$34.67, UOB climbed 1% to S$29.14, and OCBC Bank added 0.8% to end at S$12.25. Most key Asian markets ended lower on Wednesday, amid caution ahead of the U.S. inflation data as well as the results of the U.S. midterm elections that could signify a power shift in Washington. Also weighing sentiments was official data showing Chinas factory gate prices went backwards and consumer inflation slowed, highlighting concerns about weakening demand and consumption trend and the economic outlook in the country. Hong Kongs Hang Seng Index fell 1.2%, Japans Nikkei 225 lost 0.6% and the Shanghai Composite shed 0.5%, while South Koreas Kospi climbed 1.1%. Australian shares were in the black as well, rising 0.6%. Powered by Capital Market – Live News