STI recovers from week-long downtrend to close 1.2% higher

THE Straits Times Index (STI) broke a week-long downward trend to end Monday up 31.24 points or 1.24 per cent at 2,549.4 points, as the number of Covid-19 cases fell to 799 on Monday, compared with 931 on Sunday. The statistics also showed that the number of local transmission cases remained contained.

Industrial Reits ranked among the best performers on the index. Ascendas Reit rose S$0.11 or 4.06 per cent to S$2.82, while Mapletree Logistics Trust rose S$0.07 or 4.05 per cent to S$1.80.

Shares of Sembcorp Industries also rose S$0.05 or 3.33 per cent to S$1.55, after its power generation subsidiary Sembcorp Cogen obtained an order from the Singapore High Court last Friday to restrain oil storage terminal Universal Terminal, which is co-owned by debt-hit giant oil trader Hin Leong Trading, from moving, removing or disposing of any gasoil reserves designated for the subsidiary.