Singapore stocks: STI resumes Thursday afternoon down 0.1% at 3,296.91

THE local market, like its regional counterparts traded lower following the US Federal Reserve's unsurprising 25 basis point interest rate cut.

Elsewhere in the Asia-Pacific, shares in Australia, China, Hong Kong, Japan and South Korea dropped while Malaysia was flat.ING Asia economist Prakash Sakpal noted that sentiment remained risk-off, after US Fed Chairman Jerome Powell"dampened hopes of an aggressive easing cycle ahead.Shortly after the afternoon session commenced, volume on the Singapore bourse clocked in at 473.3 million securities traded and a total turnover of S$495.4 million.

The local banks were mixed. DBS Group Holdings was S$0.12 or 0.5 per cent up at S$26.53. Meanwhile, OCBC Bank fell S$0.12 or 1 per cent down at S$11.42 and United Overseas Bank dipped S$0.02 or 0.1 per cent to S$26.38.

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