Budget relief measures fail to lift stock prices

THE focus of the day was on Singapore Budget 2020, but the measures aimed at tackling the economic repercussions of Covid-19 had little immediate impact on blue-chip stocks most affected by the outbreak.

Deputy Prime Minister and Finance Minister Heng Swee Keat unveiled on Tuesday a special S$4 billion package to help companies with their cash flow and to keep jobs.

He also provided help to the tourism, aviation, retail, food services and point-to-point transport-services sectors, which have been harder hit by the crisis.