Singapore's stock market closed lower on Tuesday, with the city state's manufacturing index moving at a sluggish pace, while US president-elect Donald Trump's remarks over a possible increase in tariff on Chinese goods troubled investors.
The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 3,705.05 and 3,728.81 throughout the day. It ended the session at 3,712.39, down 19.00 points or 0.51% compared to Monday's close.
In economic news, Singapore's manufacturing output increased 1.2% year on year in October, missing analysts' expectations, according to data from EDB Singapore.
Meanwhile, Singapore's household net worth increased at a faster pace of 8.9% year-on-year during the third quarter of the year, compared to the previous quarter, according to a report by Singapore Statistics.
In company news, shares of CapitaLand Investment (SGX:9CI) fell nearly 4% on market close, as it repurchased 1.6 million shares for SG$4.5 million or SG$2.79 apiece.
Sembcorp Industries (SGX:U96) was down over 1%, as the company received a letter of award for a 300MW Inter State Transmission System connected wind-solar hybrid power project from NTPC (NSE:NTPC, BOM:532555).
SATS (SGX:S58) was also down over 1% at the close as the airport logistics company formed a partnership with Avilog Logistics Services, acquiring a 49% stake in SATS Saudi Arabia.
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