STI falls 1% on Fed rate hike, trade fears

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 announ…