STI drifts lower on the heels of estimates showing dive in Q2 GDP
Singtel among few index stocks to end higher; Hyphens Pharma and iX Biopharma surge.
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REGIONAL markets were broadly softer on Tuesday, following an overnight dip in US technology heavyweights that weighed on the S&P500 index.
In Singapore, sentiment was also dampened by advance estimates that showed second-quarter gross domestic product (GDP) shrank 41.2 per cent on a quarter-on-quarter basis, a sobering reminder of the impact Covid-19 is having on the economy.
Against that backdrop, the Straits Times Index (STI) drifted through the day to end at 2,620.19, marking a decline of 10.89 points or 0.41 per cent for the day.
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