Profit Sheets

D-Street’s Opening Cues Post Fed’s Rate Hike & Hawkish Outlook: SGX Nifty Down

September 22, 2022 09:14 AM


By Malvika Gurung

Investing.com — The listed on the Singapore-based Exchange SGX, an early indicator for , traded 0.73% or 129.5 points lower at 8:50 am on Thursday amid weak global cues following the Fed’s rate hike and hawkish outlook, indicating a negative opening on Dalal Street.

Further, the slid 0.4% and tanked 0.8%.

Major indices on Wall Street ended a volatile session sharply lower on Wednesday ahead as the US Fed announced another supersized rate hike of 75 bps and reiterated its commitment to fight the decades-high inflation.

Fed’s policymakers also indicated larger rate hikes down the line and rising at a faster pace even though recession fears loom, eradicating any chances of getting inflation under control in the near term.

tanked 1.79%, fell 1.7% and dived 1.71%. 

Stocks across Asian markets followed grim cues from Wall Street’s overnight performance and opened lower on Thursday as investors saw another hefty rate hike by the Fed and a warning of bigger and faster rate hikes going ahead.

At 8:45 am, Japan’s Nikkei fell 1%, South Korea’s Kospi declined 1.03%, China’s slipped marginally, Hong Kong’s plunged 1.8% and Australia’s ASX 200 crashed 1.56%.

The US dollar jumped to a fresh 20-year peak on Thursday, extending gains after the Fed’s 75-bps rate hike for the third consecutive time, striking a more hawkish-than-estimated tone in the meeting. 

traded at $90.3/barrel and WTI Futures at $83.4/barrel at the time of writing. Futures traded flat.



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