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Shares retreat amid cautious trading

ST Index dips 1.05% as market brushes off overnight Wall Street gains in the face of losses in the China market

Anita Gabriel

Published Thu, Jul 30, 2015 · 09:50 PM

SINGAPORE stocks closed lower on Thursday, taking the lead from losses in the Chinese market and snubbing overnight gains in Wall Street.

The bourse's benchmark Straits Times Index (STI) fell 34.48 points or 1.05 per cent to end at 3,249.52 on the back of Wednesday's "non-event" after the US Federal Reserve provided no clue on the imminent rise in rates at its meeting. On the back of that news, US equities rallied for the second straight day.

Most pundits are keep…