STI closes flat as market uncertainties linger over Fed rate hike, North Korea security issues

The STI closed down by 0.05 points, at 3,228.51, after starting the day on a surer foot and hitting 3,239.08 points soon after opening.
The STI closed down by 0.05 points, at 3,228.51, after starting the day on a surer foot and hitting 3,239.08 points soon after opening.PHOTO: ST FILE

SINGAPORE - Local equities were flat on Monday (Sept 11), as the benchmark Straits Times Index took a sudden dip towards the end of trading.

The STI closed down by 0.05 points, at 3,228.51, after starting the day on a surer foot and hitting a high of 3,240.90.

Share prices were down at DBS, which was the top counter of the day by value traded, ending lower by four cents, or 0.2 per cent, at S$20.43.

Fellow local bank UOB also closed lower by 12 cents, or 0.5 per cent, at S$23.38.

Federal Reserve Bank of New York president William Dudley on Sept 8 suggested last week that the hurricanes walloping the Americas could affect the timing of Fed rate hikes, sparking some uncertainty in the markets.

Traders also may have breathed in relief when Pyongyang's anniversary celebrations over the weekend were not accompanied by fresh missile or nuclear tests.

But all eyes will be on an upcoming United Nations Security Council vote on a watered down American-led sanctions resolution.