STI ticks up on fresh hopes of virus vaccine and EU stimulus deal

The index tracked overnight gains on Wall Street, which was boosted by a strong showing from technology giants.

Published Tue, Jul 21, 2020 · 09:50 PM

SINGAPORE shares rose on Tuesday, reversing Monday's lacklustre performance amid renewed hopes for a virus vaccine and the European Union stimulus deal.

Promising news from clinical trials allowed investors to temporarily place aside fears of Covid-19 resurgence and extended lockdowns, pushing equities to positive territory. Adding to the slew of good news on Tuesday was European leaders successfully clinching a 750-billion-euro (S$1.19 trillion) stimulus deal.

The Straits Times Index (STI) tracked overnight gains on Wall Street, which was boosted by a strong showing from technology giants. The STI was up 0.5 per cent or 13.15 points to 2,629.45 for the day.