STI slides 25.23 points to 2,623.67 on broadly negative sentiment

MAS in talks with local banks on capital management matters that could include restriction of divident payments.BY BEN PAUL

Ben Paul

Published Thu, Jul 16, 2020 · 09:50 PM

Straits Times Index

THE benchmark Straits Times Index (STI) ended the day at 2,623.67, down 25.23 points or 0.95 per cent. All but five of its 30 components closed lower. Across the wider market, losers outnumbered gainers by a wide margin of 349 to 145.

Genting Singapore was in the spotlight after its Resorts World Sentosa (RWS) integrated resort laid off a significant number of employees.

The prospect of cost savings did nothing to lift investor sentiment though. Shares in Genting Singapore ended the day at 76.5 Singapore cents, down 2.55 per cent. It was the worst-performing STI component stock for the day.