Market Update: STI snaps two days of gains, down by 0.51%

The Straits Times Index ended Wednesday trading at 2,920.43 shedding about 14.91 points or 0.51%.

Major Asian stocks also ended in the red, with Mainland China still closed for the Chinese New Year break.

Some 1.99-billion securities, worth S$1.06-million changed hands during the day's trade, with the number of stocks advancing in price, uniquely tied up with the number of decliners, at 229 each.

The worst performers for the day were Jardine Matheson with a 4.42% or US$2.49 loss, Thai Beverage, which lowered by about 2.55% or S$0.02, and SembCorp Industries which slipped by S$0.02 or 1.18%.

Meanwhile, Wall Street traded mixed with the Dow Jones hitting a record high after new data showed a surge in the retail sales (it was at the fastest rise seen since June last year).

The S&P 500 slid by about 0.03% or 1.26 points to 3,931.33. The NASDAQ also lowered by 0.58% or 82.00 points closing at 13,965.50, while the Dow Jones Industrial climbed by about 90.27 points or 0.29% at 31,613.02.

London's blue-chip index continued its downfall, with inflation seen as the cause. It picked up by a little more than expected in January.

The FTSE 100 ended down by 0.56% or 37.96 points at 6,710.90. FTSE 250 also went lower by 1.25% or 266.88 points ending at 21,149.49.