Bulls And Bears

STI down following Fed's interest rate hike

US central bank's hawkish tone, weak economic data from China fuel caution

Local shares fell yesterday ahead of today's holiday after the United States Federal Reserve hiked rates while taking a more hawkish tone regarding further increases.

The Straits Times Index (STI) extended Wednesday's losses to close down 35.78 points or 1.05 per cent at 3,356.73, leaving it 80 points or 2.3 per cent behind for the week.

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A version of this article appeared in the print edition of The Straits Times on June 15, 2018, with the headline 'STI down following Fed's interest rate hike'. Print Edition | Subscribe