STI's slide presents chances to buy on dips
The index drops 15.48 points or 0.5 per cent to end at 3,087.97; decliners outpace advancers 192 to 179
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IF TUESDAY'S disappointing US manufacturing data was a stab in the chest to investor sentiment, then Wednesday's approval of US tariffs on European imports and lacklustre US jobs data was the twist of the knife that sent regional benchmark indices to another bout of selling.
While the local benchmark was not excluded from the melee, it fared better than most Asia-pacific counterparts, helped by some bargain hunting. By mid-Thursday, the Straits Times Index (STI) fell by as much as 0.9 per cent but recovered to end at 3,087.97, 15.48 points or 0.5 per cent down.
Australia, Japan, Malaysia and South Korea were all lower. However, Hong Kong bucked the trend after Thursday afternoon reports that its government was set to ban face masks at demonstrations. The Hang Seng added 67.62 points or 0.3 per cent to 26,110.31. Markets in China remained closed for the week.
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