THE Singapore market snapped a five-session streak of modest gains on Wednesday, as the Straits Times Index (STI) dipped 5.41 points or 0.17 per cent to 3,204.80.

Many other Asian bourses were also down as short-term interest rates in China rose, highlighting fears about tighter monetary policy on the mainland as Beijing struggles with rising housing prices and inflation.

Among the STI component stocks, palm oil company Wilmar International came down from a five-month high, falling two cents or 0.6 per cent to $3.42. Wilmar has significant businesses in China, such as in the consumer segment selling cooking oil.

Commodities trader Noble Group held firm at its own five-month closing high, ending flat at $1.055.