Singapore Market ends flat ahead of Fed Meeting Outcome
The U.S. central bank is almost certain to leave its benchmark interest rate unchanged, but the focus will be about what Fed officials say about lowering rates. Recent hotter-than-expected consumer and producer price inflation readings have reduced optimism about the likelihood of the Fed's first-rate cut coming in June.
At closing bell, the Straits Times Index (STI) index edged up 1.62 points, or 0.05% to 3,173.55 after trading between 3,165.44 and 3,179.49. Volume of 1.71 billion shares worth S$966.48 million changed hands. Across the broader market, decliners outpaced advancers 275 to 227.
Singapore Post closed 6.6% higher at 40.5 cents, after it announced the completion of a strategic review that aims to unlock value.
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