Singapore's stock market closed higher on Tuesday as the city-state's Manufacturing Price Index and Domestic Supply Price Index rose in December 2024.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,801.07 and 3,837.88 throughout the day. It ended the session at 3,801.07, up 4.36 points or 0.11% compared to Monday's close.

In economic news, Singapore's Manufactured Products Price Index (SMPPI) rose 5.8% month-on-month in December 2024, accelerating from a 1.6% increase in November, driven by higher prices in electrical machinery and other non-oil categories.

The Domestic Supply Price Index (DSPI) climbed 4.5% month-on-month in December, up from 0.9% in November, led by a 5.6% rise in non-oil prices and a 1.3% rebound in oil prices.

Meanwhile, Singapore's Import Price Index fell 3.6% year on year in December 2024, extending the 6.0% drop in the preceding month. The Export Price Index also slipped 3.1% year on year in December, following a 5.2% decrease in the previous month.

However, on a month-on-month basis, the Import Price Index rose 1.0% during the month, while the Export Price Index edged up by 0.6% during the month.

In company news, shares of Ellipsiz (SGX:BIX) surged over 13% as the company appointed Kenneth Ho as the company's new chief executive officer, effective Feb. 1.

LMS Compliance (SGX:LMS) surged over 9% at the close after it agreed to acquire a 75% stake in Anchor Technology for around $4.5 million from Splendor Certification Co.

Meanwhile, Keppel REIT's (SGX:K71U) distribution per unit or DPU was down 3.4% in the second half of 2024 to SG$0.028 from SG$0.029 a year earlier. Its shares closed flat on Tuesday.