Singapore Shares Open Lower on Fed Rate Hike Concerns, Renewed US-Iran Tensions
MT Newswires
Yesterday
Singapore shares opened on a weak note on Monday, pressured by expectations of a U.S. interest rate hike next month following hawkish comments from Federal Reserve Chair Kevin Warsh.
The Straits Times Index (STI) opened down 13.79 points, or 0.24%, at 5,686.140.
In his speech at the Jackson Hole Symposium on Friday, Warsh expressed concern over persistent inflation levels and underscored the central bank's determination to steer inflation back toward its 2% target.
Investor sentiment was further dampened by geopolitical concerns, following renewed military exchanges between the U.S. and Iran that pushed crude oil prices higher.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.