STI's losing streak continues as rally fades

Concerns over the spread of Covid-19 overshadows policy support to combat the economic fallout from the virus outbreak

Published Wed, Mar 18, 2020 · 09:50 PM

SINGAPORE'S Straits Times Index (STI) looked set for a rebound of its own, but ended up extending its losing streak to six as concerns over the spread of Covid-19 overshadowed policy support to combat the economic fallout from the outbreak.

The STI was trading more than 2 per cent higher in the early session, even as US futures were pointing to a weaker open in New York. However, the STI reversed course as European markets opened, eventually closing 28.91 points or 1.2 per cent lower at 2,425.62.

Twenty-four of the STI's 30 components ended the day in the red.…