MARKETS & INVESTING | Tim Charlton, Singapore

Market Update: STI ends with modest gains, up by 1.90%

The Straits Times Index closed on Monday with a slight uptick of 57.31 points, or 1.90%, closing at 3,071.16.

About 2.07-billion securities worth S$1.91-billion changed hands, and despite the main index closing with gains, stock losers outnumbered advancers, 275 to 237.

The top performer for the day was Jardine Strategic Holdings with a 19.49% or S$5.35 gain - on the back of a proposed acquisition of Jardine Matheson. That target also saw an increase in its share price, up by 15.48% or US$8.31.

Most Asian stocks ended the trading day in the red as China’s main index entered a correction on concerns about liquidity and valuations in some recently favored stocks.

On Wall Street, US stocks traded mixed as bond yields further climbed after the Congress made headway toward passing another coronavirus package deal.

The S&P 500 plunged at about 0.38% or 14.57 points at 3,827.37. The NASDAQ also ended lower by 2.41% or 310.99 points closing at 12,609.16 while Dow Jones Industrial climbed by about 306.14 points or 0.97% at 31,802.44.

London stocks, meanwhile, jumped boosted by mining and energy sectors and that the strict lockdown has easen down.

The FTSE 100 ended up by 1.34% or 88.61 points at 6,719.13. FTSE 250 also went higher by 1.19% or 248.91 points closing at 21,210.22.

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