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Singapore Shares Open Lower as Investors Track Strait of Hormuz Diplomatic Talks

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Singapore shares opened slightly lower on Wednesday as investors exercised caution ahead of key U.S. inflation data and monitored diplomatic efforts to secure shipping routes through the Strait of Hormuz.

The Straits Times Index opened 0.11%, or 6.49 points lower, at 5,747.680.

As per news reports, Pakistan's defence minister said the US and Iran were close to reaching "some sort of arrangement" regarding the Strait of Hormuz. On the other hand, reports quote Qatar's foreign ministry as saying that discussions between Iran and Oman over shipping through the Strait of Hormuz have advanced.

Investors will also be looking at Wednesday's US consumer price index report for cues.

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