SUBSCRIBERS

STI, Asian equities see red to start 2019

S'pore blue-chip benchmark drops 1% as disappointing contraction in key indicator of China's factory activity triggers regional sell-off

Published Wed, Jan 2, 2019 · 09:50 PM

Singapore Stocks

NEW Year celebrations are full of fireworks and hope that the days ahead will be brighter and more joyful.

Alas, investors hoping that the fairly positive end to 2018 would continue into 2019 had their hopes crushed on Wednesday, with Asian benchmarks taking a pummelling to end the trading session in the red.

In Singapore, the Straits Times Index (STI) closed 29.87 points or one per cent to 3,038.89 after China's Caixin Manufacturing Purchasing Managers' Index for December showed contraction for the first time in 19 months.