Oil-related selling eases - for now
STI recovers 16.68 points, following Hong Kong's rebound; OCBC, ThaiBev, SingTel provide push among index stocks
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AFTER Monday's bloodletting which saw the Straits Times Index plunge 45 points, Tuesday's session was less painful as the index managed a 16.68-point rebound to 3322.32, aided by a similar recovery in Hong Kong. It was, however, 15 points down from its intraday high of 3,337.
The STI's bounce was led by OCBC with notable contributions from Thai Beverage and SingTel.
The offshore oil and gas sector, which has been crumbling for many weeks in the wake of falling oil prices followed by a crash on Monday, managed a slight uptick on Tuesday with marginal gains for Sembcorp Marine, Ezion and Ezra. Keppel Corp, however, first bounced to S$8.70 but ended with a net loss of S$0.03 at S$8.53 with 9.5 million done.
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