Money Matters with Hongbin Jeong and Chua Tian Tian (4pm - 7pm)Market View: Fed Chair Jerome Powell raises rates by 25bps; Contradicting messages by Powell and US Treasury Secretary Janet Yellen; UBS to shrink Credit Suisse’s US$10b shipping portfolio; Singapore’s headline inflation at 6.3%; Sembcorp Industries reportedly considering sale of its waste management unit; Boustead Projects to restore free float or be directed to delist
Singapore stocks opened lower today, following the US Federal Reserve’s move to hike interest rates by 0.25 per cent, the ninth increase in a year.
The Straits Times Index fell 0.6 per cent to 3,200.88 points after 74.4 million securities changed hands.
In terms of companies to watch, we have Sembcorp Industries, after a Bloomberg report suggested that the firm may be considering selling its waste management unit.
Meanwhile, investors continue to digest the latest quarter point rate increase by the US Federal Reserve overnight, as well as contradictory message
On Market View, the Drive Time team unpacked the key developments of the day with David Chow, Director Azure Capital.
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