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Singapore Shares Open Lower on Fed Rate Hike Concerns, Renewed US-Iran Tensions

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Singapore shares opened on a weak note on Monday, pressured by expectations of a U.S. interest rate hike next month following hawkish comments from Federal Reserve Chair Kevin Warsh.

The Straits Times Index (STI) opened down 13.79 points, or 0.24%, at 5,686.140.

In his speech at the Jackson Hole Symposium on Friday, Warsh expressed concern over persistent inflation levels and underscored the central bank's determination to steer inflation back toward its 2% target.

Investor sentiment was further dampened by geopolitical concerns, following renewed military exchanges between the U.S. and Iran that pushed crude oil prices higher.

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