Wednesday 28 February 2018

Singapore shares open level on Wednesday; STI up 0.7%

SINGAPORE - Singapore stocks opened level on Wednesday (Feb 28), with the Straits Times Index increasing 0.7 for each penny or 24.82 focuses to 3,565.21 as at 9am.

Overnight, Wall Street stocks faltered after congressional declaration from new Federal Reserve boss Jerome Powell resuscitated stresses over higher financing costs, AFP announced. The Dow Jones Industrial Average fell 1.2 for every penny to complete at 25,410.03; the wide based S&P 500 dropped 1.3 for each penny to end the day at 2,744.28, while the tech-rich Nasdaq Composite Index lost 1.2 for every penny to 7,330.35.

On the Singapore bourse, around 99.6 million offers worth S$332.2 million changed hands. Failures dwarfed gainers 77 to 49.

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