STI snaps 7-day winning streak as traders await Fed rate decision

Local shares dipped slightly on Sept 18 as investors here and elsewhere braced themselves for an expected interest rate cut from the US Federal Reserve.

- Yong Jun Yuan

The wait-and-see stance left the Straits Times Index (STI) 0.03 per cent, or a point, down at 3,592.42 to break its seven-session winning streak. Losers pipped gainers 201 to 187 with 872.3 million shares worth $1.2 billion changing hands across the broader market.

IG market analyst Yeap Jun Rong said on Sept 17 that 27 out of the 30 STI constituents have been in the black over the past month.