Bulls And Bears
Asia-Pacific markets slide amid resurgence in virus cases
STI down 0.09%, with decliners outpacing gainers 269 to 174; Key gauges in region fall despite fresh $1.2 trillion relief in US; Oceanus Group up 4%, most heavily traded on local bourse
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Tay Peck Gek
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The Straits Times Index yesterday slid 2.46 points, or 0.09 per cent, to 2,846.52, in tandem with most Asia-Pacific key equity benchmarks, amid concerns over a resurgence in coronavirus cases.
The gauges slipped in spite of a tentative agreement on a fresh US$900 billion (S$1.2 trillion) relief package in the United States.
Hong Kong's Hang Seng Index fell 0.72 per cent, while the FTSE Bursa Malaysia Kuala Lumpur Composite Index dropped 0.28 per cent.
The Nikkei 225 fell 0.18 per cent as investors weighed rising infections against new relief packages in Japan and the US, and Australia's ASX 200 slipped 0.08 per cent amid rising Covid-19 cases in Sydney.
The bright spots were the Shanghai Composite Index, with a 0.76 per cent gain, and South Korea's Kospi, up 0.23 per cent on strong performance from its biopharmaceutical stocks.
In Singapore, Wilmar International had in the past week paid $6.8 million to repurchase 1.62 million of its own shares in the agri-business group, continuing its buyback spree that started last month. The mainboard-listed stock rose 0.92 per cent to $4.40.
Tianjin Zhong Xin, which had its trading halt lifted yesterday morning, declined 16.1 per cent to 91.5 US cents, following its Sunday announcement that a 67 per cent stake in controlling shareholder Tianjin Pharmaceutical Holdings would be acquired by another company for an undisclosed sum.
The most heavily traded counter was watchlisted seafood and fast-moving consumer goods value chain manager Oceanus Group, with 108.9 million shares changing hands. The stock ended trading at 2.6 cents, up 4 per cent.
Decliners outnumbered gainers 269 to 174, with 1.34 billion securities worth $1.14 billion traded.
