STI goes into the red for 2016
Index loses 19.7 points in response to 0.8% loss in Hang Seng Index and 25-point drop in Dow futures
THE Straits Times Index (STI) on Thursday slipped marginally into the red for 2016 when it lost 19.66 points at 2,882.04 in response to a 0.8 per cent loss in Hong Kong's Hang Seng Index and a 25 point drop in the Dow futures. Turnover at 1.3 billion units worth S$758 million was the lowest in at least a month, though it was not unexpected given the upcoming holidays. Excluding warrants, there were 141 rises versus 276 falls.
Throughout the year, the STI has struggled to stay above 2,882.73, the level at which it ended 2015. On the three or four previous occasions when it managed to rise above this level, the stay there did not last long. This time round, the index rose above 2,882 on Nov 30 and it spent three weeks in the black for the year.
On Thursday, history repeated itself when selling of mainly bank shares dragged the STI down to an intraday low of 2,874 before a late bounce cut its loss to just 0.69 of a point for 2016 so far.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Japan may have spent 5.5 trillion yen on Apr 29 intervention, BOJ data suggests
Singapore stocks rise, tracking regional bourses; STI up 0.3%
Asia: Markets build on Wall Street rally, yen holds bounce
Singapore shares open in the red on Tuesday; STI down 0.3%
Stocks to watch: Wilmar, MLT, FEHT, CDLHT, Starhill Global Reit, IReit Global
Europe: Stocks eke out gains after German inflation data; Deutsche Bank drops