Drop in tech, bank counters dampen market
A RETREAT in technology stocks and the local-bank trio dampened share prices in the Singapore bourse on Friday.
The key Straits Times Index (STI) fell 25.35 points or 0.7 per cent to finish at 3,573.38. Some 1.5 billion shares worth S$1.4 billion were traded, with losers outpacing gainers 271 to 144.
Semiconductor-related stocks fell most sharply, after Taiwan Semiconductor Manufacturing - an Apple supplier and the largest contract chipmaker in the world - forecast weak smartphone demand in the second quarter. The news caused its stock to slump 6.3 per cent on Friday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Apac finance M&A to stay subdued after Q1 decline as uncertainties linger: S&P Global
Japan's Nikkei closes at 3-week high on US rate-cut outlook, tech boost
Philippines’ PLDT in talks to sell up to 49% of data centre business to Japan’s NTT
Infineon launches savings programme as weak demand persists
MAS ‘following up’ with DBS on cause of May 2 glitch in digital banking services
Nintendo to announce Switch successor details this financial year