STI falls 0.56% on inflation and interest rate concerns

AN OVERNIGHT Nasdaq rout fuelled by inflation and interest rate concerns pushed markets in Asia largely into the red at the closing bell on Wednesday (Jan 5).

Singapore's Straits Times Index (STI) dipped 17.69 points or 0.56 per cent to 3,163.44 points, as nearly two-thirds of the 30-stock blue-chip gauge closed in the red.

UOL Group declined 2.22 per cent to S$7.05, making the property player the top decliner among the STI constituents.

Thai Beverage, however, topped the STI performance tally with a gain of 2.27 per cent to S$0.675. It had stated earlier it was mulling a price hike on key products amid cost pressures.

Disa, with its volume of about 179.5 million shares transacted, was the most-traded counter on Wednesday. Its share price slipped by 11.1 per cent to S$0.008. The digital security firm has been the most-traded stock since Monday.

Decliners beat gainers 305 to 203 in the broader market, with 1.3 billion securities worth S$1.19 billion transacted.

Hong Kong's Hang Seng Index was the most hit among Asia markets as it fell 1.64 per cent to 22,907.25 points; its mainland counterpart Shanghai Composite Index closed down 1.02 per cent to 3,595.18 points.

South Korea's Kospi slid by 1.18 per cent to 2,953.97 points; Australia's S&P/ASX 200 dropped 0.32 per cent to 7,565.85 points.

However, Japan's Nikkei 225 rose 0.1 per cent to 29,332.16 points and the FTSE Bursa Malaysia KLCI finished 0.39 per cent up at 1,547.95 points.