STI down 0.72% despite December NODX expansion

The Straits Times Index (STI) was down 21.63 points or 0.72% as at 12.48pm on Jan 18 despite December’s non-oil domestic exports (NODX) registering a 6.8% y-o-y growth, according to figures released by Enterprise Singapore (ESG) on the same day.

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See: Singapore's NODX logs surprise 6.8% expansion in December

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On Jan 15, shares in Wall Street closed lower despite the unveiling of the US$1.9 trillion ($2.53 trillion) stimulus package announced by US President-elect Joe Biden.

Week-on-week (w-o-w), the STI remained flat as nearly half of the 30 constituents fell into the red.

This week’s top gainers include City Developments Limited (CDL) and Wilmar at +6.3% and +5.8% respectively. Brokerages have upped their target prices on the latter due to solid margins and due to the performance of Wilmar’s subsidiary Yihai Kerry Arawana (YKA).

DBS Group Holdings and Jardine Matheson Limited were this week’s top losers with declines of 1.9% and 1.6% w-o-w respectively.

Top advancers on the SGX include Great Eastern, Isetan and Wilmar, while the top three decliners were DBS, Jardine C&C and Jardine Strategic Holdings.

Read all the STI watch articles here.