Trade drama, Fed meeting keep investors on alert
STI retreats 13.31 points to 3,174.38; 1.4 billion shares worth S$1.17 billion change hands
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LOCAL stocks marked another day of losses as investors tuned in for the latest episode of the US-China drama and the US Federal Reserve's policy review.
High-level US-China trade talks started on Wednesday with China's Vice-Premier Liu He visiting Washington. There is apparently a willingness to reach some form of a deal as US Treasury Secretary Steve Mnuchin has said he expects "significant progress" to be made this week.
Yet, the US' earlier accusations of Huawei, China's biggest telecommunication technology giant, committing technology theft and bank fraud set a tricky stage for the trade negotiations. Market observers have noted that the Chinese side has remained fairly silent.
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