Singapore Shares May Extend Losing Streak

Macro
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Summary · why it matters

Singapore stocks are poised to extend their losing streak to a third session on Thursday, tracking global weakness after the Federal Reserve's latest minutes signaled a more hawkish interest-rate outlook. The Straits Times Index fell 18.39 points, or 0.57 percent, to 3,185.38 on Wednesday, with losses led by financial shares and trusts. Among active stocks, DBS Group declined 0.67 percent, Oversea-Chinese Banking Corporation skidded 0.97 percent, and CapitaLand Integrated Commercial Trust slumped 1.03 percent, while Yangzijiang Shipbuilding rallied 2.08 percent. The negative lead from Wall Street saw the Dow drop 129.83 points to 34,288.64, as the FOMC minutes revealed that most participants expect further rate hikes this year.

Impact on stocks 1

Others▼ · 1 stocks

Off-coverage companies 2

CapitaLand Integrated Commercial TrustPrivate▼ Negative
Monetaryrelevance

Higher rates hurt REITs; CapitaLand Integrated Commercial Trust fell 1.03%.

Yangzijiang Shipbuilding (Holdings) LtdPrivate▲ Positive
relevance

Yangzijiang Shipbuilding rallied 2.08% despite the broad market decline, but no specific cause given.

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