STI manages to stay in the black
UOB-Kay Hian has "overweight" recommendation for banking sector while Maybank Kim Eng keeps "negative" view
MONDAY'S column highlighted the year's starting level for the Straits Times Index (STI) of 2,882 as presenting formidable resistance because the index had not been able to stay above it for more than a few days on three ocassions since the start of the year.
As it turned out, having once again broken above 2,882 on Tuesday and having managed to stay above it on Wednesday, the STI lost its grip on the level on Thursday when it dropped about 16 points to an intraday low of 2,878.
Gains in Hong Kong, the Dow futures and a firm opening for Europe helped the index recover in the afternoon, and it finished with a net gain of 0.83 of a…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Keppel posts 6.3% drop in revenue to S$1.5 billion in Q1; net profit rises excluding legacy O&M assets
Cisco says hackers subverted its security devices to spy on governments
Stocks to watch: Keppel, FCT, Suntec Reit, OUE Reit, Clint, Digital Core Reit, OKP, Cordlife
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Ford profit beats on commercial sales; EVs still dragging
WhirlPool is cutting 1,000 jobs as US appliance demand remains stagnant