Singapore stocks: STI resumes Thursday afternoon at 3,164.44 , down 0.1% on day

SINGAPORE shares resumed trading in negative territory on Thursday afternoon, with the Straits Times Index inching down 0.1 per cent, or 2.40 points to 3,164.44 as at 1pm.

This comes after Wall Street stocks ended with a split finish overnight as the US Federal Reserve delivered another interest rate cut. After spending most of the day in the red, the Dow posted a modest 0.1 per cent gain, the S&P 500 clawed back to less than 0.1 per cent higher by the close of trading in New York, while the tech-heavy Nasdaq retreated 0.1 per cent.

On the Singapore bourse, losers outnumbered gainers 161 to 129, after about 376.7 million shares worth S$354.3 million changed hands.

Among the most heavily traded by volume, Golden Agri-Resources slipped 3.9 per cent, or one Singapore cent to 24.5 cents, with 17 million shares traded, while Yangzijiang Shipbuilding rose 1.9 per cent, or two cents to S$1.07, with 15.4 million shares traded.

Banking stocks traded mixed - DBS added 0.2 per cent, or five cents to S$25.08, United Overseas Bank lost 0.5 per cent, or 12 cents to S$25.78, while OCBC Bank gained 0.1 per cent, or one cent to S$10.96.

Other active stocks included Genting Singapore which was up 1.1 per cent, or one cent to 90.5 cents, and AEM Holdings which retreated 1.7 per cent, or two cents to S$1.19.

Elsewhere, Asian equities mostly rose on Thursday, following the Fed's decision to cut interest rates overnight, despite investors having to weigh the prospect of a more hawkish than expected outlook from the US central bank.

Japanese stocks rose 1 per cent going into the break, Seoul rose 0.6 per cent, and Australian shares were up 0.7 per cent.

But Hong Kong which has struggled all week on the back of its long-running protests in the city, fell 0.6 per cent. Chinese stocks were flat, ahead of a key domestic rate decision that could offer more clues on Beijing's easing policy.


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