MARKETS & INVESTING | Tim Charlton, Singapore

Daily Markets Briefing: STI ends trading week in the red

The Straits Times Index extended its losses for three successive days at the end of last week, finishing Friday's trading 1.66 points, or 0.06%, at 2,855.82.

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

However, the STI still managed to maintain its winning streak over the full trading week, which it finished up by 1.5%. This came on the back of strong gains in the early part of the week, boosted by the revision of the economic outlook next year and the hopes that COVID-19 vaccine will be made available soon. It was the fourth week of gains in a row for the index.

Top stock losers for the day on Friday were United Overseas Bank, down 0.01 points to 0.04%, Singtel with 0.01 as well to 0.41%, and Mapletree Logistics Trust with 0.01 to 0.51%.

Meanwhile, Singapore's department of statistics released the latest economic data which showed the year-on-year fall of the Domestic Supply Price Index by 9.6%, marking the ninth consecutive decline.

The downswing was mainly dragged by the energy and banking sectors, following the 10.5% plunge in September this year.

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

FTSE 250 also advanced by 0.34% at 19,462.71. 

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