Singapore stocks falter ahead of MSCI reweighting
Trading is also cautious amid threats of a second wave of virus infections and renewed US-China trade tensions.
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SINGAPORE shares retraced some of their earlier gains on Tuesday in another sign that the market remains tentative about a smooth return to normalcy amid threats of a second wave of Covid-19 infections and renewed US-China trade tensions.
Trading was also cautious ahead of the MSCI reweighting later on Tuesday, which will see some stocks added or removed from global indices depending on their market value.
The Straits Times Index (STI) opened at 2,582.55 and hit an intraday high of 2,590.51 before closing at 2,587.81, down 23.50 points or 0.9 per cent. About 1.44 billion securities, worth S$1.18 billion, were traded.
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