Singapore’s benchmark Straits Times Index (STI) slipped back to under 3,000 yesterday, closing at 2,990.40 points, 14.47 points or 0.48 per cent lower.
This was in spite of the Republic’s December non-oil domestic exports registering a 6.8 per cent gain year on year, and having beaten market expectations.
DBS Group Research noted the uncertainties surrounding new coronavirus strains and vaccine acceptance rate by the public, as well as near-term uncertainty as the fourth-quarter results season starts. It sees the STI having a near-term upside cap at 3,050.
Singapore Airlines came in as the worst STI performer, shedding 2.51 per cent to $4.28, amid a worsening global pandemic. However, the national carrier is on the way to be possibly the world’s first vaccinated international airline, with Singapore yesterday starting to roll out full-scale vaccination for front-line aviation workers.
AEM Holdings, which has launched a $99.7 million buyout bid for mainboard-listed contract manufacturer CEI, continued its upward trajectory by 3.3 per cent to reach $4.04 at the closing bell.
Fu Yu Corp was one of the most heavily traded stocks, with over 222 million shares changing hands. It saw a 10.7 per cent increase in its share price to 31 cents before it requested a trading halt at about 4.30pm. This followed a query from the Singapore Exchange on “unusual price and volume movements” in its shares.
Decliners outnumbered gainers 245 to 239 on the broader market, with 2.77 billion securities worth $1.32 billion traded.
Elsewhere, China’s generally favourable macro data gave the Shanghai Composite Index a lift by 0.84 per cent to 3,596.22 points, while neighbouring Hong Kong’s Hang Seng Index rose 1.01 per cent to 28,862.77 points.
However, other regional markets were lower.
