Market continues to languish
HK slide contributes to weakness; traders latch on to situational plays such as Ezion, which falls 4.6%
THE main difficulty dealers have faced in the past year is finding suitable adjectives to describe the local market - printable ones, that is.
Such was the case again on Monday, when the Straits Times Index drifted lower with little liquidity support. It eventually closed a nett 3.53 points weaker at 3,459.57 on volume of 1.7 billion units worth S$961.4 million.
A 0.8 per cent slide in Hong Kong probably contributed to the weakness, although the market there has enjoyed a massive rally lately and was due for a correction. A firm opening for Europe helped halve the STI's loss between 5pm and 5.05pm.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Far East Orchard acquires 49% stake in UK-based purpose-built student accommodation operator for £17.6 million
Nestle sales growth sputters on US slump, vitamin snags
BNP Paribas beats estimates as lower costs offset trading slump
TikTok ultimatum puts US firms in firing line for China response
Toyota and Nissan pair up with Tencent and Baidu for China AI arms race
BHP targets Anglo American in bid valuing miner at US$39 billion