STI falls 1% on Fed rate hike, trade fears
Week-on-week, the index has shed nearly 80 points or 2.3%; the three banks led the losers on Thursday
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SHARE prices in the Singapore bourse saw red on Thursday ahead of the Eid holiday, after the US Federal Reserve hiked rates as it unexpectedly took a more hawkish tone, while rising trade fears further spooked sentiment.
The key Straits Times Index extended previous days' losses to finish lower by 35.78 points or 1.05 per cent to 3,356.73. Week-on-week, it's been harsh with the index losing nearly 80 points or 2.3 per cent.
Adding to the cautious mood was the European Central Bank (ECB) meeting. The ECB later announced that it will stop its unprecedented bond purchases by the end of 2018.
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