Singapore stocks track Wall Street losses; STI down 0.6%

SINGAPORE shares bucked regional trends on Monday (Feb 20), as expectations of further rate hikes by the US Federal Reserve weighed on investor sentiment.

The Straits Times Index (STI) shed 0.6 per cent or 19.62 points to 3,308.75. On the broader market, losers beat gainers 302 to 239 after 1.7 billion shares worth S$847.7 million changed hands.

Across the region, other major markets were largely in the black. Hong Kong’s Hang Seng Index rose 0.8 per cent, Japan’s Nikkei 225 edged up 0.1 per cent, and South Korea’s Kospi Composite Index climbed 0.2 per cent.