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STI up 1.14% on Biden win

Thiveyen Kathirrasan and Felicia Tan
Thiveyen Kathirrasan and Felicia Tan11/9/2020 12:35 PM GMT+08  • 1 min read
STI up 1.14% on Biden win
Week-on-week, the benchmark index rose 6.9% to 2611.68, reversing from its 3.3% w-o-w loss previously.
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The Straits Times Index (STI) was up 29.52 points or 1.14% at 2,608.2 at noon break today, as the market reacts to the win of Democratic candidate and former US vice president Joe Biden on Nov 8.

See: Joe Biden secures over 270 electoral votes; becomes US's 46th President

Week-on-week, the benchmark index rose 6.9% to 2611.68, reversing from its 3.3% loss amid the US presidential election and second wave of Covid-19 infections.

All 30 STI constituents, with the exception of Jardine Strategic Holdings, saw w-o-w gains, with DBS leading the charge at 11.1%.

Despite its reported 1HFY2020/2021 net loss announced on Nov 6, national carrier Singapore Airlines (SIA) gained 1.8% w-o-w.

See also: SIA reports 1H net loss of $3.47 bil on non-cash impairment and 'sharp drop' in passenger carriage

Read all the STI watch articles here.

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