Singapore stocks up on inflation forecasts; STI gains 0.6%

Local shares closed higher on Dec 23, after the authorities maintained their full-year forecasts for Singapore’s core and headline inflation for November.

- Navene Elangovan

Core inflation, which excludes accommodation and private transport, was 1.2 per cent in November, similar to October, while headline inflation came in at 1.2 per cent in November, the same as October.

The benchmark Straits Times Index (STI) rose 0.6 per cent or 28.68 points to 4,638.97, while the iEdge Singapore Next 50 Index was up 0.2 per cent or 2.38 points to 1,447.