27.07.202601:27:47UTC+00STI Trades Lower After MAS Decision

Singapore shares slipped 17 points, or 0.3%, to 5,571 in Monday morning trade, giving back some gains from the previous session. The decline came after the Monetary Authority of Singapore (MAS) tightened monetary policy, even as core inflation eased in June. Sentiment was further weighed down by caution ahead of the US Federal Reserve’s policy decision and the release of China’s PMI readings later this week.

Investors were also on edge before Singapore’s June industrial production figures, following a slowdown in the previous month. Downside pressure on the market was partially offset by a rise in US stock futures ahead of major technology earnings and by softer oil prices after the US paused strikes on Iran.

Among the early decliners were Yangzijiang Shipbuilding Holdings (-1.8%), Jardine Matheson Holdings (-1.0%), Wilmar International (-0.8%), Venture Corp (-0.7%), DBS Group Holdings (-0.7%), and Sembcorp Industries (-0.6%).