Update: Singapore stocks finish weaker, STI down 1% on geopolitical worries
AT first glance, the Straits Times Index's 30.94 points or one per cent plunge to 3,138.3 and a data connectivity glitch that disrupted trading in the morning were the main features of Monday's trading.
For many, these would suffice, the index's loss coming in the wake of last Thursday's Wall Street selloff that was triggered by heightened geopolitical risk surrounding events in North Korea, Afghanistan and Syria, and the trading holdup upsetting many dealers who found themselves unable to trade properly for the first few hours of the session.
Moreover, the Dow futures traded in the red throughout Asian trading hours, compounding jitters here. With Hong Kong and many markets in Asia closed for Easter, brokers said that the local market bore the brunt of the geopolitical-related selling. Turnover however, was a low 1.3 billion units worth S$746 million because of the closure of Hong Kong and the morning trading disruption. Excluding warrants there were only 86 rises versus 420 falls.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Capital Markets & Currencies
Europe: Stocks retreat on earnings gloom, weak US economic data
US: Stocks hit by GDP data, Meta results
Singapore stocks end lower after US market wobbles ahead of CPI data; STI down 0.2%
LSEG reports in-line first quarter as Microsoft partnership progresses
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover
South Korea readies new system to detect illegal short-selling