Global economic worries stall STI gains

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The spectre of slowing global economic growth returned to haunt markets yesterday, as slides in developed markets' sovereign bond yields continued to stoke recession fears. The Singapore market experienced a near repeat of the previous day's performance, with the Straits...

The spectre of slowing global economic growth returned to haunt markets yesterday, as slides in developed markets' sovereign bond yields continued to stoke recession fears.

"Stocks have managed to steady, supported by expectations of accommodative policy from central banks and reports of progress in all areas of trade talks. However, details remain elusive and there is still no timetable in place for a deal." Investors showed more interest in second liners yesterday, with penny stocks making up the top six by volume traded. QT Vascular led the way with 106.5 million shares traded before closing flat at 0.4 cent.

A day after the Urban Redevelopment Authority unveiled plans to further develop the areas of Jurong and the Greater Southern Waterfront, property developer CapitaLand continued to build on Wednesday's gains of 1.44 per cent - it picked up four cents or 1.14 per cent to $3.56 yesterday with 11.1 million shares traded.

 

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