STI posts third consecutive day of declines amid economic gloom
Trio of banks - DBS, OCBC, UOB - lead losses, lopping a collective 15.3 index points off Straits Times Index.BY ANITA GABRIEL
SINGAPORE shares posted their third straight day of losses as sentiments continued to be hurt by the Covid-19 surge, more global economic gloom and risks tied to the upcoming US election. Wall Street's wobbly session overnight added more salt to injury.
The key Straits Times Index (STI) traded under water all day, and closed at a near five-week low of 2,483.48 after falling 29.39 points or 1.17 per cent.
Key Asian gauges fared mixed, with Japan and Hong Kong falling 0.3 per cent while Malaysia slipped 0.5 per cent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Puma returns to sales growth in Americas despite ‘volatile’ market
Shell to sell Singapore oil refinery, chemicals assets to Glencore joint venture
AstraZeneca lifts FTSE 100 to record high
Amazon breaks into Europe 5G networks with Telefonica cloud deal
Nanjing Xinjiekou Department Store announces May 23 EGM; Cordlife seeking legal advice
Olam tops Louis Dreyfus’ offer for Australia’s Namoi Cotton as takeover battle heats up