Market View: US Fed hikes rates by 25bps; Democrats vs Republicans over US debt ceiling; STI close; Frasers Logistics & Commercial Trust’s DPU down 8.6% yoy; Lian Beng’s privatisation offer

Your Way Home with Hongbin Jeong · May 4, 2023 · 12m

Singapore shares dipped slightly in early trade today following confirmation of a 25 basis point Fed rate hike. In early trade, the Straits Times Index (STI) lost 0.1 per cent, to 3,257.8 points after 55.3 million securities were traded in the broader market. In terms of companies to watch, we have Frasers Logistics & Commercial Trust, after its manager announced a distribution per unit of S$0.0352 (3.52 Singapore cents) for the first half of FY2023, representing an 8.6 per cent year-on-year decline. Meanwhile, the Federal Reserve soured the mood on Wall Street in the previous session by…