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STI down 0.49% to 2,841.94 on waning optimism

Thiveyen Kathirrasan and Felicia Tan
Thiveyen Kathirrasan and Felicia Tan11/30/2020 12:53 PM GMT+08  • 1 min read
STI down 0.49% to 2,841.94 on waning optimism
Week-on-week (w-o-w), the STI dipped 0.24% from last week’s 2,848.78.
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The benchmark Straits Times Index (STI) was down 13.88 points or 0.49% to 2,841.94 as at 12.48pm on Nov 30 amid waning optimism from the week before.

Week-on-week (w-o-w), the STI dipped 0.24% from last week’s 2,848.78.

The Monetary Authority of Singapore (MAS), on the same day, revealed that bank lending numbers in October fell for the eighth consecutive month due to a continued drag in business loans.

On Nov 26, Singapore’s factory output reversed into the red with a 0.9% y-o-y contraction for the month of October.

See: Singapore's factory output reverses into the red with 0.9% dip in October

This was due to broad-based declines in the general manufacturing and transport engineering sectors, but was boosted slightly by strong demand for biomedical manufacturing.

Singapore Airlines (SIA) shares continued to register w-o-w growth with a 9.6% gain on vaccine hopes.

Read all the STI watch articles here.

See also: Analysts upbeat on Singapore recovery, while predicting a slowdown in growth momentum in 4Q

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