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Wed, Nov 11, 2020-9: 54 am
UPDATED Wed, Nov 11, 2020 – 10:42 am
SINGAPORE stocks opened weaker on Wednesday after a mixed night session on Wall Street amid waning investor enthusiasm for a possible Covid-19 vaccine.
Pfizer’s optimism and BioNTech’s vaccine announcement on Monday were tempered by the realization that economic gains probably won’t be felt until the end of next year, as it will take months for any vaccine to be widely distributed.
The Straits Times Index (STI) fell 0.9 percent or 24.4 points to 2,680.60 at 9.06 hours.
The losers outnumbered the winners 83-76, after 227.7 million securities worth S $ 170 million changed hands.
The most active accountant by volume was Oceanus, which rose 9.1 percent or 0.1 Singapore cent to 1.2 cents on 81.9 million shares traded.
Other intensely traded stocks include Sembcorp Marine, which fell 0.8 percent or 0.1 cent from Singapore to 13.3 cents, with 11.3 million shares changing hands. The group said Wednesday it continued to incur losses during the fiscal third quarter ending September 30, with low overall business volume and execution delays.
Ascendas Real Estate Investment Trust lost 6.3 percent or S $ 0.20 to S $ 2.99, with 7.5 million units changing hands. On Wednesday, the Reit priced its preferential offer to shareholders at S $ 2.96 per new unit and the private placement at S $ 3,026, as part of its capital fundraiser of S $ 1.2 billion.
Most glove makers recovered slightly from Tuesday’s slide, with Malaysian property developer and future glove maker Aspen Holdings rising 1.9 percent or 0.5 Singapore cents to 26.5 cents.
UG Healthcare Corporation gained 1.2 percent or a Singapore penny to 81.5 cents, while Top Glove was up 0.4 percent or $ 0.01 to $ 2.56. However, Riverstone was down 1.2% or S $ 0.02 to S $ 3.48.
Medical clothing maker Medtecs International was flat at S $ 1.02, while Thailand-based rubber producer Sri Trang Agro-Industry was unchanged at S $ 1.19.
The banking actions were mixed in the first operations. DBS was down 1.5% or S $ 0.36 to S $ 24.04, UOB was down 0.1% or S $ 0.01 to S $ 21.25, while OCBC was up 0.2% or S $ 0.02 to S $ 9.45.
Other active accountants include Yangzijiang Shipbuilding, which was down 3.1 percent or 3 cents from Singapore to 93.5 cents, and Singapore Airlines (SIA), which advanced 0.5 percent or S $ 0.02 to 3, 93 Singapore dollars.
SATS and SIA Engineering returned part of their earnings from Tuesday’s increase. The SATS was down 0.6 percent or S $ 0.02 to S $ 3.48, while SIA Engineering fell 1.7 per cent or S $ 0.03 to S $ 1.75.
In the US, stocks pulled out of the celebration that followed the good news about a possible Covid-19 vaccine, which ended Tuesday’s session on a mixed basis.
The benchmark Dow Jones Industrial Average closed the day up 0.9 percent at 29,420.92, the overall S&P 500 fell 0.1 percent to 3,545.53, while the high-tech Nasdaq , lost 1.4 percent to close at 11,553.86.
Elsewhere in Asia, Tokyo stocks opened higher on Wednesday despite a mixed performance on Wall Street, as a cheap yen against the dollar supported Japanese exporters. The benchmark Nikkei 225 index rose 1 percent to 25,164.94 in early trading, while the broader Topix index gained 1.2 percent to 1,720.60.
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