Singapore stocks dip on Thursday—STI dropped by 0.3%

The Straits Times Index dropped by 0.3%, or 9.23 points, settling at 3,364.53 at 9:01 am, according to The Business Times.

The banking sector didn’t fare as well, with all three of Singapore’s major banks opening lower. DBS fell by 0.3% or S$0.09 to S$35.69, OCBC dropped 0.1% or S$0.01 to S$14.33, and UOB slipped by 0.2% or S$0.06 to S$30.62.US stocks saw an uptick on Wednesday, driven by growing hopes that the Federal Reserve might lower interest rates. Investors are now looking ahead to Friday, when Fed Chairman Jerome Powell is set to speak at the annual gathering of central bankers in Jackson Hole.

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