STI in the black after week of wild fluctuations
A LARGE, short-covering bounce on Wed-nesday that was triggered by China reporting better-than-expected exports for March was followed by a surprise announcement by the Monetary Authority of Singapore which essentially made for a weaker Singapore dollar - these were the highlights of the week in which the Straits Times Index finally moved into the black for the year.
Over the five days, the index gained 115 points or 4.1 per cent to 2,923.94, including a 10.01-point rise on Friday which was the index's fourth consecutive uptick for the week. The rise for the year to date now stands at 41 points or 1.4 per cent.
Turnover, however, fluctuated wildly. Tuesday's S$664 million was the lowest in 2016, Wednesday's S$1.4 billion was the highest in a month. On Friday, with traders unsure of how aggressively to go short, volume dropped sharply to 942 million units worth S$840 million and, excluding warrants, the advance-decline score was 203-183.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Google, US clash over search advertising as trial winds down
Apple rallies most in 18 months on upbeat forecast, buyback
US: Wall St opens sharply higher on soft jobs data
HSBC has no plans to dispose of further businesses, chairman says
Glencore Group nears deal for Shell’s Singapore oil refinery
Chinese share of French EV market slumps after incentives curbed