The Singapore stock market has moved lower in two of three trading days since the end of the two-day winning streak in which it had collected almost 10 points or 0.3 percent. The Straits Times Index now rests just above the 3,245-point plateau and the losses may accelerate on Wednesday.
The global forecast for the Asian markets is mixed to lower thanks to rising recession fears. The European markets were up and the U.S. bourses were down and the Asian markets figure to split the difference.
The STI finished slightly lower on Tuesday following mixed performances from the financial shares, property stocks and industrial issues.
For the day, the index dipped 5.52 points or 0.17 percent to finish at 3,245.80 after trading between 3,212.63 and 3,252.12.
Among the actives, CapitaLand Integrated Commercial Trust fell 0.49 percent, while CapitaLand Investment added 0.81 percent, City Developments tumbled 0.85 percent, DBS Group eased 0.12 percent, Emperador climbed 0.98 percent, Genting Singapore lost 0.52 percent, Hongkong Land advanced 0.87 percent, Keppel Corp rose 0.14 percent, Mapletree Industrial Trust spiked 1.80 percent, Mapletree Logistics Trust dropped 0.63 percent, Oversea-Chinese Banking Corporation collected 0.49 percent, SATS gained 0.70 percent, SembCorp Industries jumped 1.78 percent, Singapore Technologies Engineering improved 0.60 percent, SingTel declined 0.78 percent, Thai Beverage retreated 0.73 percent, Wilmar International plunged 1.44 percent, Yangzijiang Shipbuilding plummeted 5.88 percent and Yangzijiang Financial, Ascendas REIT, Mapletree Pan Asia Commercial Trust, United Overseas Bank, Comfort DelGro and Frasers Logistics were unchanged.
The lead from Wall Street is soft as the major averages shook off early support on Tuesday, quickly turning lower and spending the rest of the day in the red.