STI in the red for seventh straight session
100-point drop in Dow futures blamed for the selldown
THE Straits Times Index kicked off the week with a seventh straight loss on Tuesday, dropping 27.32 points to 2,811.20. Turnover remained meagre at 901 million units worth S$1.08 billion and excluding warrants there were 151 rises versus 258 falls throughout.
A steep fall in Hong Kong of almost 2 per cent for the Hang Seng Index was attributed to disappointing manufacturing numbers announced by China, and a 100-point drop in the Dow futures was blamed for the selling here.
The STI has now lost 150 points or 5 per cent since closing at 2,960.78 on April 21. Volatile oil prices, an uncertain Wall Street and general worry about the state of the global economy have been the main drags.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Toyota is investing US$1.4 billion to build another all-electric SUV in US
Airbus net profit soars 28% in first quarter
Carrier AirAsia discloses new listing plans under RM6.8 billion units merger
Intel slides after tepid forecast spurs fears about comeback
Microsoft beats estimates as AI drives revenue
Crypto firm sues SEC to fend off oversight of Ethereum