Singapore Stocks Tumble Amid Regional Rout As Rate Cut Hopes Fade; STI Down 1.3%

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Singapore Stocks Tumble Amid Regional Rout As Rate Cut Hopes Fade; STI Down 1.3%

The Business Times01-17

SINGAPORE shares were not spared the rout on Wednesday (Jan 17) as key regional bourses swam in a sea of red mid-week.This comes after investors realised that early interest rate cuts might not ...

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AlphaSpiker
·01-17
Hopefully we can see the market correction soon, it's high time
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color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSingapore Stocks Tumble Amid Regional Rout As Rate Cut Hopes Fade; STI Down 1.3%\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-01-17 18:03 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/singapore-stocks-tumble-amid-regional-rout-rate-cut><strong>The Business Times</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>SINGAPORE shares were not spared the rout on Wednesday (Jan 17) as key regional bourses swam in a sea of red mid-week.This comes after investors realised that early interest rate cuts might not ...</p>\n\n<a href=\"https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/singapore-stocks-tumble-amid-regional-rout-rate-cut\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"STI.SI":"富时新加坡海峡指数"},"source_url":"https://www.businesstimes.com.sg/companies-markets/capital-markets-currencies/singapore-stocks-tumble-amid-regional-rout-rate-cut","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1173246302","content_text":"SINGAPORE shares were not spared the rout on Wednesday (Jan 17) as key regional bourses swam in a sea of red mid-week.This comes after investors realised that early interest rate cuts might not materialise amid central bank officials push back on such bets.The Straits Times Index (STI) ended 42.77 points or 1.3 per cent lower at 3,142.22, with 27 out of the 30 component stocks closing in the red. The only counter that ended higher was Singapore Exchange : S68 +0.1%, which was up 0.1 per cent to S$9.64. Share prices of offshore and marine player Seatrium : S51 0% and alcohol maker Emperador : EMI 0% were unchanged at S$0.113 and S$0.51, respectively.Across the broader market, decliners beat gainers 413 to 173, with some 1.2 billion securities with a total value of S$1.2 billion changing hands.The Hang Seng Index, with a decline of 3.7 per cent, led regional losses. South Korea’s Kospi Index was down 2.5 per cent and the Shanghai Composite Index lost 2.1 per cent.These losses came as European Central Bank and Federal Reserve officials tempered rate-cut expectations.Stephen Innes, managing partner at SPI Asset Management, noted that the tone set by Fed governor Christopher Waller on Tuesday has caused a shift in bond markets, indicating that there may not be a swift rate-cutting trajectory as expected. Shares of inflight caterer and ground handler Sats : S58 -0.69% were 0.7 per cent lower at S$2.87 on the day it announced that it : S58 -0.69%has issued US$500 million worth of senior unsecured notes due 2029 at 4.828 per cent. The company said that the proceeds will be used to refinance part of the group’s one billion euro (S$1.5 billion) bridge loans, saving S$8.8 million in interest expenses.17Live Group : LVR -9.23% shares have been on a downward trajectory since its business combination with Vertex Technology Acquisition Corp, with the livestreaming platform closing 9.2 per cent lower at S$1.18. The counter has tumbled from its first trading day post-combination closing price of S$3.15 on Dec 8, 2023, erasing about 62.5 per cent in market value during this period.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":6,"commentSize":0,"repostSize":1,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}