Singapore shares close weaker after Wall Street's Tuesday selloff
WALL Street's Tuesday blowout ensured a weak day for the local market on Wednesday with the Straits Times Index dropping 42.42 points or 1.5 per cent to 2,813.71 in relatively heavy volume of 2 billion units worth S$1.3 billion.
Earnings worries and interest rate concerns were reported to be the main factors behind the US market's selloff, with the release of the minutes of the September meeting of the US Federal Open Markets Committee (FOMC) this week expected to provide clues as to whether US rates are to be raised in December.
Here, pennies were again the main play as evidenced by the average value per unit traded of S$0.66 and the fact that 16 of the 20 most actively traded stocks cost less than S$0.20 each.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Asia: Markets mostly rise as US data boosts rate hopes
Singapore stocks advance at Friday’s open, STI up 0.4%
Stocks to watch: OCBC, Sri Trang Gloves, Wilmar, Great Eastern, F&N, SingPost
Europe: Stoxx 600 ends at record high; BBVA weighs on Spain
US: Stocks rise on hopes of interest rate cuts
Singapore stocks close flat amid mixed regional trading