US rate hike, slowing growth hobbling STI

THE Straits Times Index (STI) fell continuously this week as worries mounted over the impact a December US interest rate hike would have on a slowing global economy.

In the session on Friday - incidentally, the 13th of the month - the STI shed 33.33 points or 1.1 per cent at 2,925.68; this brought the week's loss to 85 points or 2.8 per cent.

All throughout, liquidity was weak and largely focused on the 30 STI components. On Friday, the whole market traded 1.4 billion units worth S$1.1 billion, of which 365 million units worth S$744 million came from the members of the index.