SINGAPORE - Singapore shares edged downwards on Thursday morning (June 14) after the US Federal Reserve raised interest rates and signalled two more hikes would come by year-end.

At 9.08am, the benchmark Straits Times Index (STI) was down 0.38 per cent, or 12.73 points to 3,379.78. Some 59.2 million shares worth $131.3 million had changed hands, with losers outnumbering gainers 93 to 35.

Gainers included Jardine Strategic Holdings, United Overseas Bank and Jardine Matheson Holdings, while Jardine Cycle & Carriage, DBS and Venture Corp were among the losers.