Companies & Markets

STI dips on second-wave fears

Published Wed, Jun 24, 2020 · 10:30 AM

THE Straits Times Index (STI) dipped 6.3 points or 0.24 per cent to 2,628.62 on Wednesday, as Covid-19 community cases rose to seven in Singapore; in Tokyo, there was a resurgence of 55 new cases from nightlife destinations and employees working in the same location, sparking fears of a second wave.

About 1.7 billion securities worth S$1.26 billion changed hands on the Singapore Exchange. Losers outnumbered gainers 237 to 174.

The best-performing index constituent was Mapletree Industrial Trust, which added S$0.13 or 4.58 per cent to S$2.97. This came after strong demand for its private placement equity fundraising exercise at the top end of its issue price range on Wednesday, hot on the heels of news of its acquisition of the remaining 60-per-cent stake in 14 data centres in the United States for US$211 million from its sponsor.

The worst-performing STI counter was transport operator ComfortDelGro, which came down from last week's high of S$1.65 on news that it is partnering two French firms to jointly bid for Grand Paris Express greenfield metro projects in France's Greater Paris region. This is in its bid to expand its rail capabilities beyond Singapore. On Wednesday, its stock fell S$0.04 or 2.52 per cent to S$1.55.

Top active Singapore eDevelopment rose S$0.036 or 64.29 per cent to S$0.092, after it announced on Wednesday that its subsidiary proved in vitro success of a treatment and prophylactic to protect cells against Covid-19, as well as a surface disinfectant to kill the virus in very low concentrations in independent laboratory testing. Close to 363 million shares changed hands.

Regional markets were mixed. The Hang Seng fell 0.5 per cent, the KLCI fell 0.29 per cent, the Nikkei 225 fell 0.07 per cent, while the Shanghai Composite rose 0.3 per cent.