STI struggles to hold gains amid lack of drivers
STI climbs in the morning session to 3,212.16 but gives up its gains to close 1.89 points lower at 3,198.39
AMID a lack of significant drivers, Asian markets saw mixed results on Wednesday as they tried to build on the previous day's gains, and Singapore was one of those that came out on the losing end.
The key Straits Times Index (STI) climbed in the morning session to 3,212.16 just before the break, and appeared to stay strong in much of the late session. It ultimately gave up all gains to close 0.06 per cent or 1.89 points lower at 3,198.39.
"Singapore's market performance remains lacklustre with many stocks unable to hold on to intra-day gains. This is against a backdrop of weak economic data and first quarter results season that will start in a month's time," Joel Ng, head of Singapore research at KGI Securities, told The Business Times.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance
HSBC asked by US$890 billion investor group to set energy goal
BHP’s biggest rivals sit on the sidelines of Anglo M&A drama
Abu Dhabi hub carrier Etihad adds banks to US$1 billion IPO
Barclays is the latest firm to face anti-ESG wrath in Oklahoma