Singapore stocks extend losses on Tuesday, STI down 0.23%
Decline is in line with US stocks, which fell on Monday for the first time in five sessions amid investor concerns.
SINGAPORE stocks ended in the red on Tuesday, with the Straits Times Index (STI) down 6.73 points or 0.23 per cent at 2,977.17, following a choppy and directionless trading session.
This follows Wall Street's decline. US stocks fell on Monday for the first time in five sessions. OCBC Investment Research, in a market commentary on Tuesday, said: "Weighing on the minds of investors are worries that equities are running too hot and valuations are stretched at a time when major parts of the world are grappling with the worst of the Covid-19 pandemic."
Among the STI constituents, Thai Beverage emerged as top performer for the day, climbing S$0.025 or 3.25 per cent to close at S$0.795. Coming in second was CapitaLand, which gained S$0.07 or 2.04 per cent to close at S$3.50. CapitaLand's The Ascott said it has built a four-year straight streak of record growth in property units in 2020, as it boosts recurring fee income through management and franchise contracts.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Macquarie sees biggest profit dip in 15 years on commodities downturn
HSBC appoints ex-Citi banker as new Singapore head of global banking
H2G Green chief to stand trial on Aug 5 amid MOM probe
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Microsoft adds security chiefs to product groups in wake of hacking woes
Singapore shares climb at Friday’s open; STI up 0.2%