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STI dips as Covid-19 worries spike in US

Amid see-sawing sentiment for Singapore equities, Reits continue their ascent while banks extend their slides

Published Thu, Mar 5, 2020 · 09:50 PM

SINGAPORE equities appeared set for another positive showing, but a state of emergency being declared in California and Washington due to the Covid-19 outbreak derailed that run.

On Thursday, the Straits Times Index (STI) was up for most of the session, until the news development caused US futures to fall further. Europe dipped. The STI closed 6.76 points or 0.2 per cent lower at 3,018.27.

Up until news broke, sentiment in the local market was improving due to monetary and fiscal stimulus measures by the authorities to mitigate the economic impact of Covid-19.

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