STI slides as O&M stocks take a beating
Index ends 17.07 points lower, its sixth loss in seven sessions this year, as traders stay away in droves on China market worries
A NERVOUS silence reigned in most dealing rooms on Tuesday, as markets kept wary eyes cocked in China's direction and as traders stayed away in droves, worried that China's stock market plunges of the past week are not yet over.
The relentless slide in oil prices meant heavy selling of offshore and marine (O&M) stocks, which in turn dragged the Straits Times Index 17.07 points lower to 2,691.78, its sixth loss in seven sessions so far this year.
Turnover amounted to 1.75 billion units worth S$1.02 billion, of which S$743 million, or 73 per cent, was done in the 30 STI components. Clearly, institutions and programme traders were active, even if retail players were not. Excluding warrants, there were 148 rises versus 273 falls.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
US dollar inches up; Aussie, yen slide
Singapore architectural firm wins US$28 million deal to light up mega theme park in Saudi Arabia
Cordlife hiring more technical and laboratory staff to ‘strengthen core processes’
Tesla’s China-made EV sales fall 18% y/y in April
Singapore stocks end lower even as regional markets rally; STI slips 0.1%
New Thai finance minister downplays row with central bank