Singapore Market falls 1.08%

The Singapore share market finished session lower on Wednesday, 08 May 2024, on tracking a lacklustre performance in the US market overnight after comments from some Federal Reserve officials sparked questions over the timing of potential U.S. interest rate cuts, with shares in banks leading losses.

At closing bell, the Straits Times Index (STI) index fell 35.51 points, or 1.08% to 3,264.53 after trading between 3,256.16 and 3,290.16. Across the broader market, decliners outpaced advancers with 320 to 253, with 1.04 billion securities worth S$1.25 billion changed hands.

The biggest gainer on the STI was Venture Manufacturing , up 2.75% to S$13.80. Oversea-Chinese Banking Corp was the worst performer on the STI for the day, down 3.58% to S$13.75.

 

Banking stocks ended the day lower, with DBS Group Holdings falling 0.61% to S$35.71 and United Overseas Bank erasing 2.2% at S$29.88, while Oversea-Chinese Banking Corp fell 3.58% at S$13.75.

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