STI drops 70.75 points to 2,613 as lockdown fears resurface
About 1.71 billion securities worth S$1.82 billion change hands; losers outnumber gainers 349 to 148.
THE Straits Times Index (STI) fell 70.75 points or 2.64 per cent to 2,613.88 on Monday in a third straight day of losses after a rise in new coronavirus infections in the US and China stoked fears that lockdowns might be reimposed.
About 1.71 billion securities worth S$1.82 billion changed hands on the Singapore Exchange on Monday. Losers outnumbered gainers 349 to 148.
Synagie was the top traded stock, surging 3.5 Singapore cents or 26.92 per cent to S$0.165 on volume of 119 million after it said it would provide end-to-end e-commerce platform store management and fulfilment services to clients of advertising giant WPP's GroupM in South-east Asia.
The top gainer was Perennial Real Estate Holdings, which rose 25 Singapore cents or 36.23 per cent to S$0.94 after a trading halt was lifted. Perennial is the subject of a privatisation offer at S$0.95 per share.
The top loser was United Overseas Bank, which fell S$1.46 or 6.55 per cent to close at its intraday low of S$20.82 upon trading ex-dividend. A dividend of S$0.20 per share will be paid on June 29.
Regional markets were a sea of red. The Hang Seng fell 2.16 per cent, the KLSE fell 3.05 per cent, the Shanghai Composite fell 1.02 per cent while the Nikkei fell 3.47 per cent.
UOB economist Ho Woei Chen wrote in a note: "The risk of a second wave of Covid-19 outbreak has become even more pertinent after a new cluster of infections was detected in Beijing that led to fresh lockdowns in a small part of the city over the weekend. A resurgence in new cases globally could derail the anticipated rebound in global demand in the second half of the year."
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