Bank selloff drags STI below 3,300
The largest fall was recorded by UOB, which shaved six points off the index; DBS' fall of S$0.22 accounted for the loss of five points
THE Straits Times Index (STI) fell 8.85 points on Tuesday to 3,292.15 in a subdued trading session that closely resembled Monday's - when the index first rose in response to a triple-digit gain in the Hang Seng, but, as the Hong Kong index lost almost all of its ground as the day progressed, so did the STI.
Turnover here was average by recent standards at 1.15 billion units worth S$989 million, but low if a longer time frame is used. Excluding warrants, there were 150 rises versus 242 falls.
A dealer said: "The trading screens are not blinking at all. That's how quiet things have become." This has been a common complaint from dealers for many months now, with volumes having dried up following the end of the US Federal Reserve's quantitative-easing programme in October.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
DigitalBridge-backed Vantage said to weigh Hong Kong data centres sale
Vietnam delays launch of new stock trading system
Tesla’s plan for affordable cars takes page from Detroit rivals
Meituan to debut in Riyadh as expansion beyond China quickens
Mapletree Industrial Trust to distribute S$13 million of divestment gains over next 4 quarters
K-pop agency Hybe’s internal strife wipes out 1.2 trillion won