Across the broader market, losers beat gainers 281 to 222, with 982.3 million shares worth S$913.1 million changing hands
SINGAPORE shares finished lower on Thursday (Jan 9), after US Federal Reserve minutes showed that officers expect slower rate cuts in 2025.
The Straits Times Index (STI), the local bourse’s blue chip barometer, ended down 0.6 per cent or 24.38 at 3,862.6.
Across the broader market, losers beat gainers 281 to 222, with 982.3 million shares worth S$913.1 million changing hands.
Regional indices mostly closed lower. Hong Kong’s Hang Seng Index fell 0.2 per cent and Japan’s Nikkei 225 declined 0.9 per cent. The Bursa Malaysia Kuala Lumpur Composite Index retreated 0.9 per cent while South Korea’s Kospi Composite Index ended largely flat.
UOB senior economist Alvin Liew said he expects a pause in cuts in the next meeting slated for January as the Fed “takes stock of the inflation and growth outlook under the new Trump administration”.
“The reduced number of cuts reflects the higher inflation pressures from the projected tariff implementation during the latter part of 2025,” he said in a note.
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Back in Singapore, Parkway Life Real Estate Investment Trust climbed 0.8 per cent or S$0.03 to S$3.79, after Maybank Securities initiated coverage with a “buy” call and target price of S$4.10.
On the STI, the biggest gainer was Yangzijiang Shipbuilding, which extended its gains by 1 per cent or S$0.03 to S$3.11.
Integrated resort operator Genting Singapore was at the bottom of the index, sliding 2.6 per cent or S$0.02 to S$0.76.
The local banks were in the red. DBS dropped 1 per cent or S$0.44 to S$45, UOB slid 0.6 per cent or S$0.22 to S$37.58, while OCBC dipped 0.3 per cent or S$0.05 to S$17.50.
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