Gain by Dow futures brings market relief
STI inches up after staying in the red for most of the day; also helping is Europe's higher opening
Activity in the local stock market, which had shown signs of slowing over the past week, ground to a virtual standstill on Wednesday ahead of the US Federal Reserve's Open Market Committee meeting.
However, with the Dow futures rising about 20 points in the late afternoon and with Europe opening higher, the Straits Times Index, which had languished in the red for almost the whole day, managed a 4.77 points rise to 2,844.21.
Turnover amounted to a weak 1.3 billion units worth S$741 million, a far cry from the S$1.75 billion done a little over a week ago. It was the lowest single-day haul this year. Excluding warrants, there were 201 rises against 196 falls.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
S&P slashes Boeing credit outlook as rating hovers above junk status
Honda to spend US$11 billion on EV strategy in Canada
GlaxoSmithKline sues Pfizer and BioNTech over Covid-19 vaccine technology
Mapletree Industrial Trust Q4 DPU rises 0.9% to S$0.0336
Nasdaq’s profit falls as shaky economy keeps IPO revival elusive
iFast Q1 net profit surges on ePension unit performance