STI down 0.7% on weak oil, Trump news
This is despite the Dow hitting all-time high on Wednesday; local bank stocks suffer losses
Add BT as a preferred source
THE local stock market shrugged off Wednesday's all-time high for the Dow Jones Industrial Average, opting instead to focus on a fall in the Dow futures and a 1.2 per cent loss for Hong Kong that came after a 3.5 per cent drop in oil prices and news that US President Donald Trump is under investigation for possible obstruction of justice.
Banks were the main victims in the 21.34-point or 0.7 per cent loss at 3,232.09 sustained by the Straits Times Index on Thursday, a fall that occurred with trading volume of 2.2 billion units worth S$1.1 billion - the highest so far this week.
The broad market registered 148 rises versus 302 falls, excluding warrants. The FTSE ST Financials Index lost 0.8 per cent at 906.68.
Copyright SPH Media. All rights reserved.
