STI proves resilient amid selloff in China
Index down just 0.13% compared with Shenzhen Index's 5% and Shanghai Composite's 2.5%
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
THE Straits Times Index on Monday proved resilient when it fell only 3.94 points, or 0.13 per cent, to 2,952.19 in the face of heavy selling in China where the Shanghai Composite plunged 2.5 per cent after regulators moved to curb insurance companies' stockmarket activities.
Over in Hong Kong, the Hang Seng Index lost 1.4 per cent while the Shenzhen Index crashed almost 5 per cent.
Wire reports also attributed the pressure in China to concerns over the country's property market. Whatever the case, the STI spent virtually the whole session in the red though at its worst the index lost only about 19 points before a last-minute push enabled it to close with just a minimal loss.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Loyang Valley sold for S$880 million to SingHaiyi-led consortium
