Singapore Shares Open Flat as Investors Await Fed Minutes

MT Newswires07-08 10:02

Singapore shares opened flat on Wednesday, tracking overnight losses on Wall Street as market participants remained cautious about the momentum of the AI-driven rally and awaited fresh signals from the U.S. Federal Reserve.

The STI, a key benchmark for the Singapore Exchange, rose marginally in early trade by 0.02%, or 1.11 points, to open at 5,343.360.

Sentiment remained subdued after the tech-heavy Nasdaq Composite led overnight losses on Wall Street, declining 1.16% as semiconductor stocks came under pressure despite stronger-than-expected earnings from South Korean chipmaker Samsung Electronics (KRX:005930). The broader S&P 500 slipped 0.45%, while the Dow Jones Industrial Average fell 0.25% at market close on Tuesday.

Investors are awaiting the release of the Federal Reserve's June meeting minutes on Wednesday, the first chaired by Kevin Warsh, for additional insight into the interest rate outlook ahead of the Federal Open Market Committee's (FOMC) July 28-29 policy meeting.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment