The Singapore stock market finished session higher on Monday, 25 September 2023, as latest data showing Singapore's core inflation continued to trend downwards in August, reflecting improvements to supply chains and lower import costs that allow the central bank room to extend its pause on monetary tightening.
Singapore's core inflation stood at 3.4% year-on-year in August, down from 3.8% in July, due to lower inflation for services, food, as well as retail and other goods, the Ministry of Trade and Industry (MTI) and the Monetary Authority of Singapore (MAS) said on Monday. Overall inflation inched lower to 4% on a year-on-year basis in August, down from 4.1% in the preceding month.
At closing bell, the Straits Times Index (STI) index was up 10.58 points, or 0.33%, to 3,215.40 after trading between 3,195.68 and 3,222.12. Volume of 1.05 billion shares worth S$682.88 miillion changed hands. There were 252 gainers and 277 decliners.
All three local lenders advanced. UOB added 0.82% to S$28.45, OCBC Bank added 0.87% to S$12.72, while DBS rose 0.6% to S$33.45.
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