STI falls for third straight day on bleak macro data despite oil rebound

Benchmark index drops 0.3% to 2,542.37 as punters tread cautiously into the first-quarter earnings season.

Published Thu, Apr 23, 2020 · 09:50 PM

THE Straits Times Index (STI) fell 7.67 points or 0.30 per cent to 2,542.37 in a third straight day of losses as punters tread cautiously into the first-quarter earnings season while chewing on bleak macro data, even after oil markets rebounded from a two-decade low.

OCBC Investment Research wrote in a note on Thursday: "Tonight, investors will digest the US Labor Department's latest report on jobless claims. Another 4.3 million workers are expected to have filed for benefits last week, which would bring the total number seek…