STI dips 0.27% with Asian markets mixed on pandemic concerns and US weak trading
MARKETS in Asia had a mixed outing the second day in a row this week, and Singapore's Straits Times Index (STI) retreated 8.67 points or 0.27 per cent to 3,167.14 points on Tuesday.
UOB Global Economics and Markets Research wrote that Asian equities investors were caught between escalating concerns over the pandemic and playing catch-up with further strength in United States equities.
It had projected that Asian bourses would post mixed trading on Tuesday, given the weak trading session overnight in the US.
Japan's Nikkei 225 Index shed 0.19 per cent to 28,963.56 points; Hong Kong's Hang Seng Index dipped 0.02 per cent to 28,781.38 points. South Korea's Kospi Index was 0.13 per cent lower at 3,247.83 points, while Shanghai Composite Index dropped 0.54 per cent to 3,580.11 points.
However, Australia's S&P/ASX 200 Index rose 0.15 per cent to 7,292.59 points, and the FTSE Bursa Malaysia Kuala Lumpur Composite climbed 0.60 per cent to 1,587.96 points.
Losers outpaced gainers 253 to 247 in Singapore's broad market as 2.54 billion securities were transacted at a total value of S$1.18 billion.
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Bukit Sembawang Estates shares were up 2.83 per cent to S$5.09 - below the target price that DBS Group Research has for the stock, as the property player "has enough inventory to sell for the next decade, with the land pegged at extremely low historical costs".
Enviro-Hub Holdings shares were trading at S$0.093 or 8.14 per cent higher when markets closed on Tuesday, following its Monday late-night announcement that an associate had received regulatory clearance to market its nitrile medical-grade examination gloves in the United States.
It was one of the most actively traded stocks as well, with a volume of 125.3 million.
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