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Market flat as it weighs oil price plunge

Keppel Corp loses ground while SIA continues to soar; SingTel is biggest contributor to ST Index

Published Thu, Dec 11, 2014 · 09:50 PM

THE Singapore market continued to digest the implications of falling oil prices on Thursday, with rig builder Keppel Corp trading lower while Singapore Airlines (SIA) gained.

The Straits Times Index (STI) closed flat at 3,318.70, down 7.11 points or 0.21 per cent. Losers outnumbered gainers. About 1.1 billion shares were traded with a value of S$1 billion.

The market opened to news of US energy companies tumbling on Wednesday night, after the Organization of the Petroleum Exporting Countries (Opec) cartel cut its 2015 forecast for crude oil demand.

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