Singapore Shares Incur Losses Despite Potential US Federal Reserve Rate Cuts

MT Newswires
Aug 14

Singapore shares ended Thursday in red, tracking losses across the region, despite the possibility of the US Federal Reserve cutting interest rates by September.

The Straits Times Index (STI), a key benchmark for the Singapore Exchange, ranged between 4,247.32 and 4,282.80 throughout the day. It ended the session at 4,256.52, down 16.24 points or 0.38% compared to Wednesday's close.

In company news, shares of ST Engineering (SGX:S63) were down over 6% at the close even as its attributable profit to shareholders jumped 20% during the first half of the year to SG$402.8 million from SG$336.5 million a year earlier.

CapitaLand Investment's (SGX:9CI) shares were down nearly 4% after its attributable profit to owners declined by 13% in the first half of the year to SG$287 million from SG$331 million a year earlier.

Meanwhile, Food Empire's (SGX:F03) shares were down over 4% at the close as it booked an attributable loss to equity holders of $1.5 million during the first half of the year, against an attributable profit of $23.6 million a year earlier.

STI fell 0.4%; ST Engineering fell 6%; Centurion fell 3%; DBS, Sembcorp, and Nio fell 2%.

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