Shares retreat amid cautious trading
ST Index dips 1.05% as market brushes off overnight Wall Street gains in the face of losses in the China market
SINGAPORE stocks closed lower on Thursday, taking the lead from losses in the Chinese market and snubbing overnight gains in Wall Street.
The bourse's benchmark Straits Times Index (STI) fell 34.48 points or 1.05 per cent to end at 3,249.52 on the back of Wednesday's "non-event" after the US Federal Reserve provided no clue on the imminent rise in rates at its meeting. On the back of that news, US equities rallied for the second straight day.
Most pundits are keeping their expectations for a September lift-off intact.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Mapletree Logistics Trust to sell Tuas warehouse for S$10.5 million
Keppel sells stake in Dyna-Mac for S$100 million
STI climbs 0.8% on Friday, tracking regional rally
China’s Zeekr prices US IPO at top of range to raise US$441 million
Hin Leong founder OK Lim found guilty of 3 criminal charges
New weight-loss, diabetes drugs reach one in eight Americans