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Thursday, February 22, 2024

Straits Times Index down 0.10% at 2,840.14

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Straits Times Index down 0.10% at 2,840.14

Singapore: Local offers finished the main day of the week on a somewhat dismal note, even as other Asian business sectors rose on the rear of US President Donald Trump marking the Covid-19 pandemic help and spending Bill. At the end of the market, the benchmark Straits Times Index (STI) closed with a loss of 1.90 points at 2,840.14 level. Across the more extensive market, decliners dwarfed advancers 231 to 207, after 1.46 billion protections worth some S$740.4 million changed hands.

On the other hand, the regional markets closed in the black among intensified investor optimism. Besides, the Nikkei 225 gained 0.70% and KLCI raised nearly 0.20%. At the same time, the Jakarta Composite Index traded with a gain of 1.20%. On the same day, the Hang Seng Index contradict the trend and it closed with a 0.30% loss.

According to the reports, one of the most known senior market analyst in Singapore said that there are two major reasons behind the rally in Asian stocks. The first one is lower liquidity than usual and another one is the US president made a decision on the omnibus bill.

However, the changes in regional markets were moderate. Because of holiday-thinned participation.

Yangzijiang Shipbuilding stood at first place as the top gainer in the list of 30 constituent stocks. On Monday, the counter closed at 94.50 with a gain of 2.70%. STI stock is the most traded one of the days along with 44.90 million shares.

On the other hand, Hongkong Land stood as the top losers of the day. The shares of Hongkong Land dropped 0.72% or S$0.03 to close at S$4.16.

Besides, Jardine Matheson Holdings is the biggest loser in the broader market. On Monday, it lost nearly 0.30% to S$55.35. The trio of glove markets is the top decliners on Monday. It reduced 3.70% to S$2.07 on an ex-dividend basis.

Furthermore, Riverstone Holdings reduced 5.10% to S$1.11. UG Healthcare plunged 4% to $59.50 Singapore cents. On the other hand, the trio of lenders closed the day in mixed mode. DBS dropped 0.20% while UOB reduced 0.10%. OCBC raised 0.10% to S$10.07.

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