The Straits Times
The benchmark Straits Times Index rose 0.2 per cent to 3,123.61.PHOTO: ST FILE
Uma Devi
https://str.sg/3kU5
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SINGAPORE (THE BUSINESS TIMES) - Analysts anticipate profit-taking on the Singapore bourse as Singapore reinstates pre-emptive Covid-19 safety measures from May 8 to 30.
This comes amid a rise in Covid-19 community cases here, including a cluster at Tan Tock Seng Hospital detected in the past week.
The sell-off has already started, with Singapore shares swimming in a sea of red during the early morning trading session on Wednesday (May 5). At the midday trading break, all index counters except Jardine Matheson Holdings were down.
The Straits Times Index (STI) eventually closed 0.8 per cent down at 3,153.59 on Wednesday.
When the market opened on Wednesday, decliners outnumbered gainers 98 to 30, or three down for every one up, a ratio not seen in the past five days of trading - which has been largely even, according to a tally by The Business Times.