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Market sees no clear signals from Fed

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Singapore stocks fell yesterday after the US central bank delivered a widely-expected rate cut but provided limited insight on its next course of action for the year. The Straits Times Index (STI) opened on higher ground but for the most part, moved between positive and...

"In the end, we are keeping a keen eye on trade discussions, on recently concerning oil dynamics, on market liquidity, on Brexit, on the pace of slowing employment conditions, and as always, on the inflation readings to work out when the Fed will cut again," said Mr Rick Rieder, BlackRock's chief investment officer of global fixed income.

Among the most active counters, TEE International closed at $0.047, up 2.17 per cent or $0.001, on a turnover of over 40 million shares. Indonesia's prolonged drought, part of a mild El Niño, has been hurting yield at the palm oil company. It posted a second-quarter net loss and recently told analysts that it was lowering its full-year production guidance.

 

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