Singapore equities resumed trading on Monday afternoon in negative territory following a steep selloff due to escalating worries over the economic repercussions of Covid-19 as well as a sharp fall in oil prices.SINGAPORE equities resumed trading on Monday afternoon in negative territory following a steep selloff due to escalating worries over the economic repercussions of Covid-19 as well as a sharp fall in oil prices.
The Straits Times Index was down 134 points or 4.5 per cent to 2,826.98 as at 1.06pm. The STI is on track to record its worst single day performance since Oct 22, 2010's 5.2 per cent dive. Shortly after the afternoon session began, volume traded on the Singapore bourse clocked in at 1.15 billion securities with a total turnover of S$1.21 billion. Both volume and turnover are on track to beat their respective 2019 intraday averages.
Across the market, decliners trumped advancers 458 to 70. On the bluechip index, all 30 of its counters were trading in the red. The local banks were decidedly lower in afternoon trade. DBS shares lost S$1.43 or 6.2 per cent to S$21.57, OCBC Bank skidded S$0.48 or 4.7 per cent to S$9.73 and United Overseas Bank was trading at S$21.92, down S$1.28 or 5.5 per cent as at 1.05pm on Monday.