29.04.202603:28:16UTC+00Singapore Stocks Drops to Near 6-Week Low

The STI Index fell 30 points, or 0.6%, to 4,857 in Wednesday morning trade, extending its losing streak to a sixth consecutive session and hitting its lowest level since March 12. The benchmark tracked overnight declines on Wall Street, pressured by concerns over weakness at OpenAI and a further rise in oil prices. Losses were broad-based, with most sectors in negative territory, including transportation, utilities, and consumer non-durables. Sentiment was cautious ahead of the Federal Reserve’s monetary policy decision later in the day, as well as mounting worries that higher oil prices could stoke domestic inflation. Notable early decliners included Singapore Telecommunications (-2.8%), Keppel (-1.6%), Jardine Matheson Holdings (-1.4%), and Hongkong Land Holdings (-1.4%).