Singapore market dips after Fed rate increase

But surge in 3-month US-dollar Libor draws more attention from analysts

Singapore stock prices took a modest dip yesterday after the Federal Reserve, as anticipated, lifted interest rates by a quarter point to the 1.5 per cent to 1.75 per cent range.

Following in the footsteps of Wall Street, the key Straits Times Index yesterday fell 19.76 points, or 0.56 per cent, to finish at 3,491.37. Some 1.5 billion shares worth $1 billion were traded, and losers outpaced gainers 225 to 158.

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A version of this article appeared in the print edition of The Straits Times on March 23, 2018, with the headline 'Singapore market dips after Fed rate increase'. Print Edition | Subscribe