Singapore shares fall at Thursday’s open tracking Wall Street sell-off
Singapore stocks were pulled into negative territory on Thursday (Apr 11), tracking a Wall Street retreat after US inflation data topped estimates, dashing hopes for near-term rate cuts by the US Federal Reserve.
On the Singapore bourse,$FTSE Singapore Straits Time Index (.STI.SG)$headeddown 0.9 per centor 28.11 points to 3,209.41 as at 9.01 am. Across the broader market, losers outnumbered gainers 112 to 44, after 92.8 million securities worth S$123.7 million changed hands.
The most active counter by volume was$Seatrium (S51.SG)$, whichlost 1.2 per centor S$0.001 to S$0.085 with 9.3 million shares traded.
Other heavily traded securities included$CapLand IntCom T (C38U.SG)$, whichshed 1.5 per centor S$0.03 to S$1.94, with 7.1 million units traded, and$Golden Agri-Res (E5H.SG)$, whichgained 1.9 per centor S$0.005 to S$0.275, with 6.8 million shares traded.
Wall Street stocks closed lower on Wednesday following much-anticipated data which showed US consumer prices rising 0.4 per cent in March from February, and 3.5 per cent from the year prior, both slightly above the expected level.