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Daily Markets Briefing: STI ends trading week in the red

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The Straits Instances Index prolonged its losses for 3 successive days on the finish of final week, ending Friday’s buying and selling 1.66 factors, or 0.06%, at 2,855.82.

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This got here amid jitters on the effectiveness of AstraZeneca’s coronavirus vaccine.

Nonetheless, the STI nonetheless managed to keep up its profitable streak over the total buying and selling week, which it completed up by 1.5%. This got here on the again of sturdy positive factors within the early a part of the week, boosted by the revision of the financial outlook subsequent 12 months and the hopes that COVID-19 vaccine shall be made obtainable quickly. It was the fourth week of positive factors in a row for the index.

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Prime inventory losers for the day on Friday had been United Abroad Financial institution, down 0.01 factors to 0.04%, Singtel with 0.01 as nicely to 0.41%, and Mapletree Logistics Belief with 0.01 to 0.51%.

In the meantime, Singapore’s division of statistics launched the newest financial information which confirmed the year-on-year fall of the Home Provide Value Index by 9.6%, marking the ninth consecutive decline.

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The downswing was primarily dragged by the power and banking sectors, following the ten.5% plunge in September this 12 months.

London’s FTSE 100 ended the week up by 0.07% at 6,367.58 in response to the quiet US markets as they celebrated the Thanksgiving break. For the week, the blue-chip index gained by 0.24%.

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FTSE 250 additionally superior by 0.34% at 19,462.71. 

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