STI falls for 4th straight session on concerns over recovery of US economy

SINGAPORE stocks slid for the fourth day in a row, tracking the fall in world equities as US Federal Reserve officials expressed caution over the country's economic outlook. The benchmark Straits Times Index ended Thursday down 33.12 points or 1.29 per cent to close at 2,527.92.

In minutes from a July meeting released on Wednesday, the US Federal Open Market Committee members agreed that the "ongoing public health crisis would weigh heavily on economic activity, employment, and inflation in the near term and was posing considerable risks to the economic outlook over the medium term".

The best performer for the day among the STI constituents was ground handler and caterer Sats, which closed up S$0.03 or 1.04 per cent at S$2.91. Shares of Wilmar International plunged S$0.50 or 10.3 per cent to close at S$4.36, after one of its largest shareholders, Archer Daniels Midland, announced plans to sell off shares and bonds worth US$800 million.