Singapore Shares May Extend Wednesday's Losses

(RTTNews) - The Singapore stock market headed south again on Wednesday, one session after it had ended the three-day losing streak in which it had stumbled more than 70 points or 2.2 percent. The Straits Times Index now rests just beneath the 3,120-point plateau and it may open in the red again on Thursday.

The global forecast for the Asian markets is cloudy, with coronavirus concerns warring with bargain hunting after heavy selling in recent days. The European and U.S. markets were mixed and little changed and the Asian markets figure to follow that lead.

The STI finished sharply lower on Wednesday following losses from the financial shares and property stocks.

For the day, the index dropped 40.72 points or 1.29 percent to finish at the daily low of 3,117.52 after peaking at 3,136.44. Volume was 1.52 billion shares worth 1.45 billion Singapore dollars. There were 321 decliners and 133 gainers.

Among the actives, Yangzijiang Shipbuilding plummeted 3.96 percent, while Mapletree Commercial Trust plunged 3.04 percent, Ascendas REIT tumbled 2.44 percent, Genting Singapore skidded 2.33 percent, SembCorp Industries retreated 2.04 percent, CapitaLand Mall Trust declined 2.02 percent, CapitaLand Commercial Trust sank 1.99 percent, Singapore Technologies Engineering dropped 1.58 percent, CapitaLand and Singapore Exchange both shed 1.34 percent, Thai Beverage and Wilmar International both lost 1.20 percent, DBS Group fell 1.08 percent, United Overseas Bank slid 1.06 percent, Oversea-Chinese Banking Corporation dipped 1.00 percent, SingTel was down 0.65 percent, Mapletree Logistics Trust eased 0.51 percent, and Comfort DelGro added 0.50 percent.
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