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STI swings back into the black as businesses in Singapore reopen from May 12

Thiveyen Kathirrasan & Felicia Tan
Thiveyen Kathirrasan & Felicia Tan • 1 min read
STI swings back into the black as businesses in Singapore reopen from May 12
Investors’ optimism was apparent as financial markets took on a positive turn to kick start the week. The benchmark Straits Times Index (STI) edged up 12.54 to 2604.42 as of mid day.
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SINGAPORE (May 11): Investors’ optimism was apparent as financial markets took on a positive turn to kick start the week. The benchmark Straits Times Index (STI) edged up 12.54 to 2604.42 as of mid day.

See also: STI's upward crawl to continue

As the number of Covid-19 cases among the community remains low, the government indicated that there will be gradual opening up of businesses from May 12 onwards.

Investors were also cautiously optimistic on local banks following the release of their 1Q2020 results over the last week.

See also: DBS increases provision but keeps 1Q dividend at 33 cents, UOB posts 19% fall in 1Q20 earnings to $855 mil, and OCBC posts 43% fall in 1Q20 earnings to $698 mil

Amid the uncertainty stemming from Covid-19, as well as the fallout from the Hin Leong collapse on local banks, The Edge Singapore is keeping track of the component stocks on STI, a capitalisation-weighted stock market index that tracks the performance of the top 30 companies listed on the Singapore Exchange (SGX).

This valuation table will be updated at noon on Monday each week.

Read all the STI watch articles here.

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