Affected by the overnight rise of US stocks, the expansion of inflation in Singapore in November and the approaching holiday, the sea index rose slightly on the 23rd. On the same day, trading in Singapore stock market was quiet, and the trading volume and trading volume failed to reach the usual level of 1 billion shares and S $1 billion respectively.
On the same day, the Straits Times index opened higher and opened at 3098.04. After the opening, it once rose above 3100 points, but soon began to fluctuate downward. It rose significantly before the closing in the afternoon and finally closed up 0.3%, while the sea index rose 0.08% the previous trading day. On the same day, the highest was 3104.18 points, the lowest was 3090.25 points, and finally closed at 3096.81 points.
Among the FTSE series indexes, FTSE SGX Asia Shariah 100 rose 0.98%; The FTSE straits times overall index rose 0.34%, and the FTSE Kelly board index fell 0.4%; The FTSE Straits Times China Index rose 0.7%; The FTSE Straits Times consumer goods and services index rose 0.598%; FTSE Straits Times micro stock index rose 0.41%; The large and medium-sized stocks of FTSE Straits Times rose 0.35%, and the FTSE Straits Times medium-sized stock index rose 0.46%; The FTSE Straits Times small cap index rose 0.13%.
Data show that the trading volume of Singapore stock market on Thursday was about 879 million shares, with a turnover of about S $516 million (about 2.415 billion yuan). 265 stocks rose and 169 stocks fell.
According to the data released by Singapore’s Ministry of trade and industry and the HKMA, the country’s overall consumer price index rose 3.8% year-on-year in November, higher than 3.2% in October, and the highest level since February 2013. The Singapore monetary authority’s core inflation rate (excluding accommodation costs and private road transport prices) rose to 1.6% from 1.5% in October. At the same time, the Ministry of trade and industry and the HKMA raised their overall inflation forecast for the whole year to 2.3%, and predicted that the HKMA’s core inflation rate would average 0.9%.
Yan Shengchong, economist of UOB, said that considering the rise of consumer price index in the first 11 months of this year, the team further raised the overall inflation expectation in 2021 to 2.3%, while maintaining the core inflation expectation at 1%. This means that Singapore’s consumer price index is expected to rise by 3.9% year-on-year in December 2021. More importantly, given that the relevant departments predict that the overall inflation rate will be between 1.5% and 2.5% in 2022, the team predicts that prices in Singapore may rise further next year. In order to cope with higher inflationary pressure, the monetary authority of Singapore has tightened monetary policy at the policy meeting in October 2021. The team believes that at the next policy meeting in April next year, the HKMA may again increase the slope of the fluctuation range of the nominal effective exchange rate of the New Zealand dollar, that is, let the New Zealand dollar appreciate further.
Local media quoted CMC market analyst Wang suiqin as saying that Singapore Airlines’ share price is close to a three-week low of S $4.76, while Genting Singapore’s share price has also fallen below the 20 day moving average. Singapore Airlines and Genting Singapore’s share prices were weak because Singapore would suspend the sale of vaccinators’ travel corridor tickets and bus tickets from December 23 to January 20 next year to curb the spread of Omicron variant. Xue Zeming, an analyst at Industrial Bank Co.Ltd(601166) , said that the global semiconductor market demand is expected to be driven by the double-digit growth of sensors and logic products. Large semiconductor companies will purchase equipment to increase production. The popularization of electric vehicles and 5g network infrastructure will also increase the market demand for semiconductor products. He said that technology stocks had a slight correction in the past few months, partly because the market was worried about the Omicron strain, but the overall performance was good. The Industrial Bank Co.Ltd(601166) research team rated the technology sector as “neutral”, but was optimistic about the outlook of enterprises benefiting from the semiconductor supply chain.
(Xinhua Finance)
