STI falls after rising US yields hit Wall St

SINGAPORE stocks took their cue on Wednesday from Wall Street's overnight decline, as rising US Treasury note yields sent investors fleeing from equities, at least for now.

The Straits Times Index (STI) dipped 16.55 points, or 0.46 per cent, to 3,568.01, while the full bourse saw losers beat gainers 307 to 126 - about five down for every two up.

CGS-CIMB analyst Nigel Foo had said in a Tuesday note that, while the stock market correction is "still in progress" in the US, Singapore's STI "is looking to test the last high of 3,611 points at end-January".