Singtel's jump helps cap STI's loss

A S$0.07 rise in Singtel to S$4.27 on Thursday helped negate the effect on the Straits Times Index of losses in all three banks.

Also helping were positive sessions in Hong Kong and the Dow futures market, with the latter gaining about 50 points, indicating a likely firm Thursday for Wall Street.

The net effect was that STI's loss was capped at 5.75 points at 2,869.82, which came with average turnover of one billion units valued at S$1.02 billion. Singtel's support amounted to about 7 points.

Oil and gas (O&G) stocks had a mixed session, perhaps to be expected given the volatility of the past fortnight after the bankruptcy of O&G company Swiber Hold…