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China and US rate hike fears hit stocks

STI drops 1.2 per cent amid moderate turnover; brokers say investors are watching next week's FOMC meeting


RENEWED volatility in China and Hong Kong on Monday and worries of a US rate hike possibly as early as next week ensured that the local stock market kicked off the week on a down note, the Straits Times Index dropping 34.5 points or 1.2 per cent to 2,921.44.

Turnover was a moderate 1.3