Singapore Shares Fall 0.55%. Riverstone Rises 1.9%; Sri Trang Agro Falls 3.5%; UOB Drops 1.34%; Wee Hur Holdings Slumps 11%
Singapore's stock market declined on Tuesday, as the region awaits the US Federal Reserve's imminent decision to cut interest rates and update the country's outlook for 2025.
The Straits Times Index ranged between 3,796.070 and 3,818.600 throughout the day. It ended the session at 3,799.93, down 21.10 points or 0.55% compared to Monday's close.
Riverstone rose 1.9%; Sri Trang Agro fell 3.5%; UOB fell 1.34%; Top Glove fell 1.2%.
In economic news, Singapore's non-oil domestic exports (NODX) rose 3.4% in November, reversing a 4.7% decline in Oct., according to data released by Enterprise Singapore.
Shares of Wee Hur plunged nearly 11% after the company agreed to sell seven purpose-built student accommodation assets to Australia's Graystar.
Sinarmas Land was down nearly 2% at the close after it made a mandatory tender offer for 382,016,642 shares amounting to 8.01% shares of Suryamas Dutamakmur (IDX:SMDM) at a price of 531 Indonesian rupiahs per share.
Meanwhile, Mapletree Logistics was up nearly 1% at the close after the logistics trust entered into a purchase agreement with an unrelated third party to divest an industrial building at 1 Genting Lane, Singapore for SG$12.3 million.
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