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Market fails to break out of losing streak

STI down for the 5th day in a row in the face of a triple whammy brought by BOJ's unexpected move and falls in oil, Dow futures

Published Thu, Apr 28, 2016 · 09:50 PM

Singapore Stocks

THE US Federal Reserve lived up to expectations when it kept interest rates unchanged on Wednesday but the Bank of Japan (BOJ) didn't when it held off on expanding its monetary stimulus on Thursday, a surprise development that sent the Nikkei 225 diving 3.6 per cent.

In addition, oil plunged 2.6 per cent, while the Dow futures dropped 150 points.

Faced with this triple whammy, the Straits Times Index, which on Thursday first made a spirited attempt at avoiding a fifth consecutive loss when it initially rallied 26 poin…

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