STI tumbles 1.1% to cap bruising week

SINGAPORE shares extended their losses on Friday, capping a bruising week riddled with consternation amid the renewed Covid-19 wave in the United States and Europe, lockdown fears and US pre-election jitters. Investors were too spooked to even cheer Wall Street's big tech bounce overnight.

The key Straits Times Index (STI) tumbled 26.84 points or 1.10 per cent to 2,423.84 to log a five-day losing streak. Week on week, the STI has tumbled nearly 114 points or 4.5 per cent; for the year, the barometer is in the red by 25 per cent.

All regional bourses were awash in red on Friday as risk-off sentiments dominated trading. The day's biggest loser was South Korea, with its sharpest monthly loss of 2.6 per cent.