STI still in a rut despite Wall Street rally
Index follows falls in Hong Kong and Dow futures, with DBS, UOB and Wilmar closing weaker
WALL Street's Tuesday rally failed to break the Straits Times Index's losing streak, with the local benchmark losing 8.28 points at 2,732.87 on Wednesday in response to falls in Hong Kong and the Dow futures.
Turnover at one billion units worth S$1.1 billion was average and excluding warrants, there were 182 rises versus 203 falls. It was the index's 12th loss in 13 sessions during which it has fallen 228 points, or 7.7 per cent.
"It is difficult to see what might shake the market out of its present downturn," said a dealer. "For now, stocks are being avoided like the plague and safe havens like bonds are doing well."
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
Sheng Siong Q1 net profit up 9.3% on higher revenue
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels
S&P Global first-quarter profit beats estimates on strong product demand
Malaysia mulls over plans for casino in Forest City as part of Johor-S’pore Special Economic Zone: sources