SUBSCRIBERS

STI rebounds, albeit in lower volume

Analysts certain Fed will raise rates next week, amid growing consensus that there could be two more hikes afterwards

Published Tue, Mar 7, 2017 · 09:50 PM

ALTHOUGH the Straits Times Index (STI) managed an 8.93-point rebound to 3,130.44 on Tuesday, most likely in tandem with a rise in the Dow futures and Hang Seng Index, perhaps the more important feature of trading was that volume amounted to 2.5 billion units worth only S$1.12 billion, a sharp drop from last week's S$1.5 billion daily average. Excluding warrants, there were 255 rises versus 198 falls.

Brokers suggested that traders had suddenly turned cautious ahead of next week's US Federal Open Market Committee meeting, at which an interest-rate hike is virtually certain. In the federal funds futur…

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here