SINGAPORE (July 20): The Straits Times Index (STI) dipped 0.8% to 2,608.82 from last week’s 2,631.08 despite the rebound in June’s non-oil domestic exports (NODX) numbers released on July 17.
June’s numbers surpassed even the 8% growth by private-sector economists, according to a Bloomberg poll.
See: Non-oil domestic exports makes surprising rebound in June
The increase was boosted by non-electronic shipments, and non-monetary gold.
Despite the positive showing, as well as the gradual re-opening of tourist attractions and hotels, most of the STI constituents remained in the red.
Surprisingly, SATS Limited saw a 3.6% increase w-o-w despite analysts turning negative on the stock following its 4Q20 losses. Singapore Exchange Limited (SGX), Singapore Telecommunications (Singtel), Venture Corporation, and Wilmar International also saw gains of 1.2%, 0.3%, 0.8%, 1.5%, and 3.8% respectively.
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