Singapore shares close weaker after Wall Street's Tuesday selloff
WALL Street's Tuesday blowout ensured a weak day for the local market on Wednesday with the Straits Times Index dropping 42.42 points or 1.5 per cent to 2,813.71 in relatively heavy volume of 2 billion units worth S$1.3 billion.
Earnings worries and interest rate concerns were reported to be the main factors behind the US market's selloff, with the release of the minutes of the September meeting of the US Federal Open Markets Committee (FOMC) this week expected to provide clues as to whether US rates are to be raised in December.
Here, pennies were again the main play as evidenced by the average value per unit traded of S$0.66 and the fact that 16 of the 20 most actively traded stocks cost less than S$0.20 each.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling
Asia: Markets mixed as global rally stalls, eyes on yen
Singapore shares retreat at Thursday’s open; STI down 1.1%
Stocks to watch: Keppel, FCT, Suntec Reit, OUE Reit, Clint, Digital Core Reit, OKP, Cordlife