STI extends losses, dragged by industrial sector

The Straits Times Index ended Thursday trade down, losing 12.07 points or 0.42% to the day at 2,857.48.

This came on the back of industrial production data, which showed that the sector plunged unexpectedly in October. Production fell by 0.9% year on year, with electronics manufacture particularly affected.

Top stock losers for the day were Singtel with 0.05 points to 2.02%, UOL Group Limited with 0.15 to 1.97%, and Singapore Airlines with 0.07 to 1.53%.

The country's Health Ministry meanwhile recorded five new cases of COVID-19 infection, one of which was found within the community, the first such case in 16 days.

Pharmaceutical company AstraZeneca and the research team of Oxford University acknowledged a manufacturing error in the preliminary results of their experimental COVID-19 vaccine.

This has raised queries on its previous claim that its 90% effective against the virus.

London's blue-chip FTSE 100 also closed in negative territory, down by 0.44% at 6,362.93, pulled by the energy and banking sectors.

The FTSE 250 on the other hand slipped by 0.88% to end Thursday trading at 19,396.34.

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