Straits Times Index dips 0.08% despite Wall Street rally

Shanghai Composite Index, Hang Seng Index also close down as China-US trade tension continues to escalate

Published Wed, Aug 19, 2020 · 09:50 PM

THE Straits Times Index (STI) ended Wednesday down 2.05 points or 0.08 per cent at 2,561.04, even as the global mood improved after US stocks closed Tuesday at a record high.

Wilmar International was top gainer for the day, gaining S$0.09 or 1.89 per cent to close at S$4.86.

The agri-business group is listed as one of RHB's top buys, as RHB said that its "diversified business with exposure to consumer-pack products helps to offset weakness in other businesses", and that the potential initial public offering of Yihai Kerry Arawana - Wilmar International's Chinese unit - "by end-2020 is a key catalyst".