News that China’s services sector expanded at the fastest pace in over a decade in June also underpinned the market. The Caixin/Markit services Purchasing Managers’ Index rose to 58.4, the highest reading since April 2010, from May’s 55.0, pulling further away from the trough hit in February as the coronavirus lockdown paralysed the economy.
But upside was capped by news that in Singapore, retail sales fell 52.1 per cent on year in May 2020 - the lowest recorded decline since 1986 when growth rate data was first compiled. Healthcare-related Medtecs International, which also makes disposable personal protective equipment , continued to enjoy active trading on the back of Covid-19 pandemic. The stock, which was trading around single digit Singapore cents in past years, closed at S$0.50.
Top Glove, the world’s largest rubber glove maker, also continued its uptrend. Year-to-date, the group’s share price has increased four-fold from S$1.54 last year to S$6 on Friday.For daily updates on weekdays and specially selected content for the weekend. Subscribe to