Trading sombre ahead of US jobs report
STI slips 0.3% amid a mixed Asian market while US stock indices stabilise after recent volatility
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SHARES in the local bourse trended downwards for the fourth straight session ahead of key US jobs report as the risk-off mode persisted despite some semblance of stability in Wall Street overnight Wednesday.
The key Straits Times Index slipped 9.07 points or 0.3 per cent to 3,388.14 bringing year-to-date gains to nearly 18 per cent. The other major Asian bourses were mixed: Japan's Nikkei 225 rose 1.5 per cent, Hong Kong's Hang Seng climbed 0.3 per cent while South Korea's Kospi fell 0.5 per cent and Shanghai's Composite Index lost 0.7 per cent.
"Cautiousness continues to pervade the global equity space amid concerns of potential US government shut-down and ahead of US non-farm payroll data on Friday and FOMC (Federal Open Market Committee) meeting next Thursday," said Maybank FX Research.
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