Singapore stocks track Wall Street losses; STI down 0.6%

SINGAPORE shares closed lower on Monday (Feb 27), tracking losses on Wall Street from last week.

The Straits Times Index (STI) fell by 0.6 per cent or 19.06 points to close at 3,263.24. On the wider bourse, losers outnumbered gainers 353 to 228 after 1.8 billion securities worth S$1.2 billion changed hands.

IG market analyst Yeap Jun Rong noted that Wall Street stocks ended lower last Friday as higher-than-expected core pricing figures in the US drove up rate-hike expectations.