S’pore stocks slip after US Fed chief says equities ‘highly valued’

The Straits Times Index (STI) fell 0.3 per cent or 12.27 points to close at 4,290.4 on Sept 24, as investor sentiment cooled after US Federal Reserve chairman Jerome Powell said late on Sept 23 that equity prices could be overvalued.

- Jude Chan

In the wider Singapore market, gainers edged out losers 285 to 270, after some 1.6 billion shares worth $1.4 billion changed hands.

“The market had been running hot, fuelled by a mix of dovish hope and AI exuberance, but Jerome Powell just wandered into the room with a bucket of cold water,” said Mr Stephen Innes, managing partner of SPI Asset Management.