STI slides along with regional bourses
Analysts attribute quieter trading to profit-taking after November's bullish run
THE sell-off in Wall Street put paid to any hopes of gains on the local bourse with the key Straits Times Index logging its third straight session of losses. Fundamentals have not changed and hence analysts attribute the down time in the market to profit taking activities after November's bullish run which saw the index jump 1.8 per cent.
On Wednesday, the market's key barometer lost 40.85 points or 1.2 per cent to finish at 3,397.21.
Most other Asian bourses saw red too with Japan's Nikkei 225 losing nearly 2 per cent, Hong Kong's Hang Seng down 2.1 per cent and China's Shanghai Composite slipping 0.3 per cent. Malaysia's KLCI…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Micron poised to get over US$6 billion in chips grants in announcement next week
Gold gains as Middle East tensions lift safe-haven appeal
New Cadence supercomputers aim to speed creation of chips, software
Singapore shares climb at Thursday’s open; STI up 0.3%
China education firms learn tough lessons overseas
Keppel Pacific Oak US Reit posts 8.8% fall in distributable income for Q1