Singapore Shares Notch Biggest One-Day Drop in Six Months -- Market Talk

Dow Jones02-05

1007 GMT - Singapore shares suffered their biggest selloff in six months as investors weighed fresh comments by the Fed chair suggesting that rate cuts might not be coming as soon as markets hoped. Almost all stocks on the benchmark index ended in the red. Mapletree Pan Asia Commercial Trust fell 4.0%, Seatrium shed 4.0%, Keppel dropped 2.6% and SingTel lost 2.5%, while CapitaLand Integrated Commercial Trust ended 2.5% lower a day before it releases earnings. Jardine Matheson Holdings and Hongkong Land Holdings were the only gainers among STI constituents, rising 2.3% and 0.95%, respectively. The benchmark FTSE Straits Times Index closed 1.4% lower at 3143.29. (amanda.lee@wsj.com)

(END) Dow Jones Newswires

February 05, 2024 05:07 ET (10:07 GMT)

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