Singapore stocks open lower after rate hike hints

SINGAPORE'S benchmark Straits Times Index (STI) fell back through the 2,800-point level after clearer hints that rate hikes were on the way. The STI opened the week lower by 4.78 points to 2,797.73 points, down 0.17 per cent.

US Federal Reserve chairman Janet Yellen said last Friday that a rate hike is probably justified in the coming months if the American economy continues to strengthen. Other Fed officials have also been preparing markets around the world for a second hike.

By 9.01am, 41.5 million shares worth S$57.3 million were traded. Gainers outnumbered losers 59 to 43.

Top stocks by value traded were DBS, Singtel, Jardine Strategic, Comfortdelgro and Noble Group.