Shares in Singapore, like other Asian stocks, fell on Wednesday (April 6) as investors battled the prospect of an aggressive monetary tightening by the US Federal Reserve while awaiting more clarity on sanctions to be imposed on Russia.
The benchmark Straits Times Index (STI) fell 0.6 per cent, or 22.06 points, to 3,422.95, while major indexes in Hong Kong, Japan, South Korea and Australia ended lower by 1.9 per cent, 1.6 per cent, 0.9 per cent and 0.5 per cent, respectively.
IG market strategist Yep Jun Rong said markets were reacting to comments by Fed Governor Lyle Brainard, which was considered to be in a snarky tone. Brainard had noted that the US central bank could begin shrinking its balance sheet as early as May and is doing it "significantly faster" than in previous recoveries.
Shares in Singapore, like other Asian stocks, fell on Wednesday (April 6) as investors battled the prospect of an aggressive monetary tightening by the US Federal Reserve while awaiting more clarity on sanctions to be imposed on Russia.
The benchmark Straits Times Index (STI) fell 0.6 per cent, or 22.06 points, to 3,422.95, while major indexes in Hong Kong, Japan, South Korea and Australia ended lower by 1.9 per cent, 1.6 per cent, 0.9 per cent and 0.5 per cent, respectively.
IG market strategist Yep Jun Rong said markets were reacting to comments by Fed Governor Lyle Brainard, which was considered to be in a snarky tone. Brainard had noted that the US central bank could begin shrinking its balance sheet as early as May and is doing it "significantly faster" than in previous recoveries.
Sembcorp Marine Sembcorp Marine: S51 0% was once again the most actively traded counter, closing flat at S$0.10 after 109.9 million shares of S$11 million changed hands.
Among STI components, Jardin Matheson Holdings JMH USD: J36 +0.55% was the top performer, up 0.5 per cent or US$0.31 to close at US$57.17. At the bottom of the table was Fraser Logistics & Commercial Trust Fraser L&C Tr:BUOU -3.36%, down 3.4 percent, or S$0.05, to close at S$1.44.
3 local banks declined between 0.3 and 0.7 percent.