STI's losing streak extends to four sessions

FRESH off its worst session since August 2011, Singapore's Straits Times Index (STI) managed to overturn an early 0.7 per cent loss to trade higher for most of the Monday session.

However, it closed 3.36 points or 0.11 per cent lower at 3,007.72 after a late dip just before the closing.

Even though the STI extended its losing streak to four, investors in the city-state were buoyed by hopes of US Federal Reserve rate cut in March after its chair Jerome Powell said the Covid-19 outbreak is posing evolving risks to economic activity.