STI falls 0.88% despite overnight Wall Street rally
The index's performance is in line with most exchanges in the region, amid fresh US-China tensions.
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SINGAPORE shares fell on Thursday despite Wall Street's overnight rally, which was prompted by rising expectations for loose monetary policy ahead of US Federal Reserve chair Jerome Powell's speech.
The Straits Times Index (STI) fell 0.88 per cent or 22.27 points to close at 2,519.81. The STI's performance was in line with that of most exchanges in the region, amid fresh US-China tensions, which Stephen Innes, chief global markets strategist at AxiCorp, said had "clouded overall sentiment in Asia".
Escalation of US-China tensions is expected, following four missiles fired by Beijing into the disputed South China Sea, and US sanctions on Chinese firms linked to the region.
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