Singapore Shares Slip at Open on Fed Rate Hike Fears

MT Newswires
09/24

Singapore shares opened weak on Thursday, tracking the losses on Wall Street, which was pulled down by expectations of a further rate hike by the US Federal Reserve.

The Straits Times Index slid 0.13%, or 7.17 points, to open at 5,702.740.

Global crude oil prices rose sharply on Wednesday as Iranian President Masoud Pezeshkian rejected surrender to the US. Stronger-than-expected US economic data has also triggered inflation concerns, with increased expectations of a further rate hike.

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