STI snaps 2-session rally, falls 1.2% on Wednesday

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Singapore's Straits Times Index (STI) ended a two-session rally on Wednesday, with the benchmark closing 32.45 points or 1.3 per cent lower to 2,539.44. Twenty-two of the STI's 30 counters finished in the red. Read more at The Business Times.

Elsewhere in the Asia Pacific, equity benchmarks in Australia, China, Hong Kong, Malaysia, South Korea and Thailand finished with losses. On the other hand, Japan's Nikkei 225 Index was a notable gainer, adding 403.06 points or 2.1 per cent to 19,353.24.

Citi Research analyst Robert Kong said:"After a of almost unprecedented market volatility driven by global uncertainties, we expect SGX to be a key beneficiary in both a surge in equity turnover and derivative contract volumes. April and beyond could potentially bring further volatility." The bank-brokerage raised its target price of the bourse operator to S$10.80 from S$9.60.

 

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