Singapore Market ends softer

The Singapore stock market finished session lower on Thursday, 09 March 2023, amid jangling nerves over yet more interest rate rises, with many investors were still bracing themselves for a hefty 50-basis point hike from the United States Federal Reserve instead of the more modest 25-point lifts that have become the norm of late.

At closing bell, the Straits Times Index (STI) index declined 12.35 points, or 0.38%, to 3,214.51 after trading between 3,211.03 and 3,232.28. Volume was 1.75 billion shares worth S$813.54 billion changed hands. There were 242 gainers and 240 decliners.

The top performing stock in Straits Times Index constituents was Emperador Inc. (EMP) which rose 1.01% to S$0.50, while the bottom performing stock was Ascendas Real Estate Investment Trust, falling 0.7% to S$2.78.

The local banking trio, accounting for a weighting of over 40% of the STI, were lower. United Overseas Bank fell 0.54% to $29.31, Bank declined 0.65% to $33.49, and Oversea-Chinese Banking Corp was 0.08% lower to $12.54.

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