STI drops 0.67% to 2,827.32 points; glove-makers gain but aviation-related stocks lose

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THE Straits Times Index (STI) was 0.67 per cent or 19.2 points down at 2,827.32 points on Tuesday, as global covid situation deteriorated, sparking lockdowns and tighter border restrictions. Read more at The Business Times.

THE Straits Times Index was 0.67 per cent or 19.2 points down at 2,827.32 points on Tuesday, as global covid situation deteriorated, sparking lockdowns and tighter border restrictions.

The coronavirus resurgence in countries including the United Kingdom and Australia has produced gainers and losers on the Singapore Exchange on Tuesday. Glove-maker counters including Riverstone, Top Glove and UG Healthcare saw their prices tick up, with UG Healthcare registering the most gain among the lot - up 9.65 per cent to close at S$0.625. Riverstone closed 6.25 per cent higher at S$1.19 while Top Glove gained 0.92 per cent to S$2.20.

In contrast, aviation-related counters such as Singapore Airlines , ground handler and inflight caterer Sats, and SIA Engineering were hit by the global flare-up. SIA dropped 3.43 per cent to S$4.23, Sats declined 3.19 per cent to S$3.94, and SIA Engineering was trading at S$1.94 at the closing bell, 3.48 per cent lower.

Also, SIA earlier announced it had used S$7.1 billion or about 80 per cent of the S$8.8 billion raised in the dilutive rights issue this year, as the national carrier continues to burn through hundreds of millions of dollars a month.

 

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