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, $FTSE Singapore Straits Time Index (.STI.SG)$ headed down 0.9 per cent or 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 $Seatrium (S51.SG)$ , which lost 1.2 per cent or S$0.001 to S$0.085 with 9.3 million shares traded.
Other heavily traded securities included $CapLand IntCom T (C38U.SG)$ , which shed 1.5 per cent or S$0.03 to S$1.94, with 7.1 million units traded, and $Golden Agri-Res (E5H.SG)$ , which gained 1.9 per cent or 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.
$Dow Jones Industrial Average (.DJI.US)$ lost 1.1 per cent to 38,461.51, and the broad-based $S&P 500 Index (.SPX.US)$ declined 1 per cent to 5,160.64. The tech-rich $Nasdaq Composite Index (.IXIC.US)$ slid 0.8 per cent to 16,170.36.
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