Market Update: Singapore shares slip two days ahead of Chinese New Year

The Straits Times Index had a downfall on Wednesday trade of about 9.43 points or 0.32% closing at 2,925.84.

Investors are still keeping up their trade days ahead of the Lunar New Year celebration, boosting the performances of other major Asian stock indices.

About 2.28-billion securities worth S$1.14-billion changed hands, with advancers outnumbering decliners, 236 to 230.

Worst performers were Genting Singapore with a 2.81% or S$0.025 loss, Thai Beverage shed about 2.42% or S$0.02, and Mapletree Logistics which went lower by S$0.04 or 2.02%.

On Wall Street, US stocks traded mixed with the S&P 500 marking its second day of declines amid strong corporate earnings and supportive monetary and fiscal policy.

The key index fell by about 0.03% or 1.35 points to end the day at 3,909.88. The NASDAQ slumped by 0.25% or 35.16 points closing at 13,972.54, while the Dow Jones Industrial had an uptick of 61.97 points or 0.20% at 31,437.80.

Wall Street also dragged London’s blue-chip index despite the upbeat earnings reports of several firms.

The FTSE 100 ended down by 0.11% or 7.20 points at 6,524.36. FTSE 250 also went lower by 0.55% or 116.50 points ending at 20,996.44.

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