Singapore stocks buck regional gains; STI falls 0.6%

SINGAPORE stocks bucked the regional trend and ended a tough week lower on Friday (Apr 8), as the aggressive outlook for the Fed's monetary policy remained the key theme overnight.

The benchmark Straits Times Index (STI) fell 0.6 per cent or 20.95 points to 3,383.28. Major indexes in Hong Kong, Japan, South Korea and Australia closed between 0.2 and 0.5 per cent higher.

IG market strategist Yeap Jun Rong said that, with a quieter economic calendar to end the week, Asia equities were set for a muted day as market expectations continued adjusting towards recent updates on the Fed's policy. This mapped the overall sentiment in the United States, which remained fragile, he added, noting that the outperformance seemed concentrated on the defensive - healthcare and consumer staples - and energy sectors.