STI, regional stocks slide on virus resurgence in certain countries

LOCAL shares closed lower in tandem with regional markets amid a bearishness driven largely by pockets of resurgence of Covid-19 across the globe, particularly in Europe and the UK.

The benchmark Straits Times Index fell 12 points or 0.48 per cent to 2,485.71, after 1.37 billion securities worth S$988.07 million changed hands. Decliners outnumbered advancers 350 to 127.

Stephen Innes, chief global markets strategist at AxiCorp, noted that an added "drip-feed of negativity" is plaguing markets amid the approaching US elections.