Market Update: Singapore snaps three-day losing streak

The Straits Times Index rose on Wednesday trade by 13.11 points, or 0.45% to end the day at 2,958.63, and snapping three days of previous losses.

Asian stocks traded mixed as investors anticipated the results of the US Federal Reserve's policy meeting.

About 3.39-billion securities worth S$1.27-billion changed hands, with advancers outnumbering decliners, 282 to 206.

Top performers were Venture with 2.26% or a S$0.45 gain, HongkongLand climbed by 1.74% or US$0.08, and OCBC Bank which went higher by S$0.16 or 1.54%.

Meanwhile, Wall Street sank following some lower than expected corporate earnings results.

The S&P 500 slipped to its worst session in three months, dropping about 2.57% or 98.85 points at 3,750.77. The NASDAQ was down by 2.61% or 355.47 points to 13,270.60, while the Dow Jones Industrial fell by 633.87points or 2.05% at 30,303.17.

London stocks also closed in negative territory as the surge of coronavirus cases in the UK raised investor jitters.

The FTSE 100 slumped by about 1.30% or 86.64 points at 6,567.37, dragged further by the mining sector. The FTSE 250 went lower by 0.83% or 170.01 points to 20,278.35.