The Straits Times Index (STI) was down 0.08% or 2.53 points to 2,990.66 as at 1.59pm amid growing optimism in the US markets due to the announcement of a potential stimulus aid worth trillions of US dollars.

Week-on-week, the benchmark index grew 4.6% from the previous week’s (Jan 4) 2,858.90.

Of the 30 constituents, only three were in the red, led by City Developments Limited (CDL), which saw a 7.9% w-o-w drop.

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The company saw its third director step down from the board on Jan 4 in relation to its investment in China’s Sincere Property Group, prompting its executive chairman Kwek Leng Beng to issue a letter to the media.

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Jardine Cycle & Carriage, Yangzijiang Shipbuilding, Dairy Farm International and Singapore Telecommunications (Singtel) were among the top gainers, registering w-o-w increases of 11.6%, 8.8%, 6.9% and 6.9% respectively.

Read all the STI watch articles here.

sti Jan 11