STI dips despite optimism for a rebound in some quarters

THE Straits Times Index ended the first trading day of the week at 2,629.69, down 5.14 points or 0.2 per cent from Friday, despite optimism for a "sustained rebound" on imminent economic recovery by Morgan Stanley Research in a Monday report, after the city-state entered Phase Two of its reopening last week.

Decliners outnumbered gainers 285 to 135, with 1.21 billion securities worth S$1.21 billion traded.

Among the index constituents, real estate company Hongkong Land rose the most - up 14 US cents or 3.46 per cent to US$4.19, on positive news late last week of a tie-up with Asia Bankers Club and developer An Khang to introduce The Marq, a new luxury development in Ho Chi Minh City, Vietnam.