SINGAPORE (Mar 17): A glimmer of hope has appeared for companies on the Singapore Exchange (SGX), which have been battered relentlessly over the past week and a half. As at noon on Tuesday, only half of the component stocks on the benchmark Straits Times Index (STI) are down from their last close.

This follows a surprise decision by the US Federal Reserve on March 15 to slash interest rates, which failed to calm the global financial markets on Monday.

Last week, investors started fleeing for cover after the World Health Organization on March 11 declared the novel coronavirus (Covid-19) outbreak a pandemic.

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