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.
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
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.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
Beijing’s calculated silence on the Iran war
Middle East-linked energy supply shocks put Asean Power Grid back in focus
