STI dips with refocus on near-term headwinds

SINGAPORE shares eased slightly on Friday against a mixed showing by regional peers, as the initial vaccine-led optimism gave way to renewed fears of further lockdowns, following a spike in Covid-19 infections across the United States and Europe.

The benchmark Straits Times Index (STI) slipped 0.02 per cent or 0.51 points to 2,711.39. Across the broader market, advancers outpaced decliners 227 to 203 after some 1.65 billion securities worth S$1.42 billion changed hands.

DailyFX strategist Margaret Yang said that vaccine optimism appeared to have cooled as investors refocused on the near-term headwinds.