STI falls 0.2% on Friday, capping a brutal week of losses

SINGAPORE stocks slinked off to the Christmas weekend with nary a sliver of optimism in sight as worries of slowing global growth, the US central bank's rate hike and an impending US government shutdown crashed headlong.

Rounding off a week of losses mostly, the Straits Times Index fell 0.2 per cent or 4.58 points to 3,046.04 on Friday, about 1 per cent lower than last Friday's close of 3,077.09.

Hopes of a possible Santa Clause rally were thoroughly crushed mid-week, thanks to the US Federal Reserve's less dovish than expected policy statement. To add salt to wound, investors also had to contend with the threat of a US government shutdown after President Donald Trump hardened his demands in the showdown with Congress over funding. Weary US equities extended losses for six consecutive trading days overnight.