STI slips 0.6% after Powell's first rate hike

SINGAPORE stock prices took a modest dip on Thursday after the Federal Reserve, as anticipated, lifted interest rates by a quarter point to the 1.5-to-1.75 per cent range.

Following in the footsteps of Wall Street, the key Straits Times Index fell 19.76 points or 0.56 per cent on Thursday to finish at 3,491.37.

Some 1.5 billion shares worth S$1 billion were traded, and losers outpaced gainers 225 to 158.