Investors book profits after strong start to week

IT WAS all quiet along the US-China trade front, so Brexit worries and a weak revenue forecast from US semiconductor giant Texas Instruments took the lead in driving sentiment during Wednesday's session in Asia.

In Singapore, the Straits Times Index (STI) was unable to extend its positive start to the week, instead closing at 3,144.28, a drop of 16.39 points or 0.5 per cent. But traders pointed out that the benchmark's strong early-week rally was cause for investors turning to book profits.

Elsewhere in the Asia-Pacific, most Asian markets faced sell-offs in tech stocks on Texas Instruments' revenue warning, with China, Hong Kong, Japan, Malaysia and South Korea all posting losses. Australia was flat but Japan managed gains.