Initial optimism over Greek bailout fizzles out
INITIAL optimism about a Greek bailout proposal that lifted the Singapore market early in the week fizzled out in the later half as eurozone officials struggled to break a deadlock despite multiple rounds of talks. A continued correction in Chinese stocks also dampened sentiment.
The Straits Times Index (STI) fell 0.9 per cent or 28.97 points to 3,320.9 on Friday, dragged down by bank stocks ahead of Greece's last-ditch negotiations on Saturday to try and avert a looming default next week.
In the broad market, losers outnumbered gainers 256 to 181, or about seven down for every f…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Euro at highest to yen since 2008, markets nervy over Tokyo stepping in
Singapore stocks track Wall Street gains on Tuesday; STI up 1.5%
UBS lifts Chinese stocks to overweight in rare upgrade call
Asia: Most markets rise with earnings, US data in view
Singapore banks lead market surge again on easing Middle East tensions; STI up 1%
Stocks to watch: Clar, Keppel Reit, ESR-Logos Reit, Nanofilm, LHN