STI slips 0.2% on fears of second virus wave

STI slips 0.2% on fears of second virus wave

A slight rise within the quantity of virus infections sparked fears of a second wave and put traders in a defensive mode yesterday.

The uneasy temper despatched the Straits Times Index (STI) down 6.three factors, or 0.24 per cent, to 2,628.62, with 1.7 billion shares price $1.26 billion altering palms, whereas losers outnumbered gainers 237 to 174.

Fears have been sparked by information of seven new group instances in Singapore and a resurgence of 55 in Tokyo from nightlife locations and employees working in the identical place.

The STI’s greatest performer was Mapletree Industrial Trust, which added 4.58 per cent to $2.97.

This adopted sturdy demand for its personal placement fairness fund-raising train on the high finish of its challenge worth vary yesterday.

The issuance got here scorching on the heels of information of its acquisition from its sponsor of the remaining 60 per cent stake in 14 knowledge centres within the United States for US$211 million (S$294 million).

The worst performing STI counter was transport operator ComfortDelGro, which got here down from final week’s excessive of $1.65, when it stated it was partnering two French companies to bid for metro initiatives within the Greater Paris area. The inventory fell 2.52 per cent to $1.55.

Top lively Singapore eDevelopment shot up 64.29 per cent to 9.2 cents after asserting yesterday that its subsidiary proved in-vitro success in impartial laboratory testing of a remedy and prophylactic to guard cells in opposition to Covid-19 and a floor disinfectant to kill the virus in very low concentrations. Around 363 million shares modified palms.

Regional markets have been combined. The Hang Seng Index slipped 0.5 per cent following Tuesday’s wholesome features whereas Shanghai shares rose 0.three per cent.

South Korea’s Kospi closed up 1.42 per cent as worries over tensions with North Korea eased. The gained additionally rose 0.78 per cent, its sharpest day by day acquire in additional than two weeks.

Japan’s Nikkei inched down 0.07 per cent after these 55 new virus instances, the best because the nation lifted a nationwide state of emergency.

“One surprise in the recent data has been the resiliency of activity data in emerging Asia even as the global economy slowed sharply and global demand remains below pre-pandemic levels,” famous analysts at JPMorgan.

“This outcome largely appears to be due to the tech sector outperforming non-tech, most likely reflecting in part a temporary work-from-home boost to demand.”

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