SINGAPORE: Singapore shares plunged to a near four-year low amid a major sell-off on Monday , mirroring the sea of red across Asian equity markets as investors rushed for the exits after a steep fall in oil prices and escalating concerns about the global spread of COVID-19.
It has since pared losses, with US crude last seen about 20 per cent lower at US$33.38 per barrel as of 10.22 GMT on Monday. Brent, the global benchmark, last traded 18.2 per cent lower at $37.03 a barrel. In Singapore, rig builder Keppel Corp tumbled 9.65 per cent or S$0.60 to S$5.62, its lowest since November 2016.
Time to enter market
STI has been sideways since 2015. It’s constituents are overweight China. Unlike the HSI, where the motherland is intervening fudging the flows. The STI is going to show it’s true worth in the next month.