Singapore Shares Open Lower On Fed Rate Hike Fears
MT Newswires
2 hours ago
Singapore shares opened the week in negative territory as investors braced for potential US interest rate hikes following stronger-than-expected inflation data and surging global oil prices.
The Straits Times Index (STI) slipped 10.75 points, 0.18%, to open at 5,685.180 on Monday.
Market sentiment was weighed down by an acceleration in US consumer prices for August, raising expectations that the Federal Reserve will raise interest rates soon.
Upward pressure on energy markets also intensified after crude prices climbed following a pipeline shutdown in Saudi Arabia and geopolitical developments in the Gulf.
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