Geopolitical fears curb STI's recovery
Index ends 13.8 points lower on Tuesday, as banking stocks come under pressure
MONDAY'S 29-point bounce for the Straits Times Index may have been too much, too soon - on Tuesday, the STI's recovery from last week's North Korea-triggered selloff ran out of steam when it finished a net 13.76 points weaker at 3,294.93.
Earlier in the day the index had tried to extend its recovery when it rose 10 points, but with pressure on the banks, the attempt ultimately failed. The reversal was in line with a similar move in Hong Kong and was said to have been due to caution over the US-North Korea standoff.
Turnover amounted to a low 1.7 billion units worth S$1.13 billion and excluding warrants, there were 204 rises versus 294 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