STI overcomes negative data to register third straight day of gains

THE Straits Times Index (STI) recorded its third increase in a row on Wednesday, ending mid-week up 11.78 points or 0.46 per cent at 2,574.73 points.

This was despite dismal preliminary employment numbers showing the sharpest quarterly contraction in 17 years, and an 85 per cent year-on-year drop in visitor arrivals to Singapore in March.

CapitaLand Commercial Trust and CapitaLand Mall Trust were the best performers among the index constituents. Units of the former added S$0.07 or 4.67 per cent to close at S$1.57, while units of the latter gained S$0.07 or 4 per cent to finish at S$1.82. Both real estate investment trusts (Reits) are in the midst of completing a merger to form the third-largest Reit in the Asia-Pacific.