, Singapore

Which sectors are net sellers for the stock market in January?

The stock market closed 3,365.67 points in January, up 3.51% from December. 

Institutional and retail investors are net sellers in January for the Singapore stock market index, CGS-CIMB said.

Outflows of the stock index primarily went from financials and telecommunications.

Most sectors were positive in January 2023 but  REITs, Utilities, and Developers leading and Telcos and Tech ended the month negative.

Against this backdrop, the  International Monetary Fund raised its global economic growth outlook for CY23 to 2.9%. Singapore's Dec 22 NODX (non-oil domestic exports) decreased 20.6% year-on-year due to declines in both electronics and non-electronics exports. 

Core inflation for December 2022 remained at 5.1% while headline inflation decreased to 6.5%. 

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