Xinhua
30 Nov 2020, 16:21 GMT+10
SINGAPORE, Nov. 30 (Xinhua) -- Singapore shares closed 1.75 percent lower on Monday, as profit-taking continued to emerge after market surged last week.
U.S. markets posted marginal new highs on thin post-Thanksgiving trades last Friday as hopes for quick approval of coronavirus vaccines counterbalanced soaring infection rates, but indices futures were higher in Asia on Monday after the U.S. Surgeon General Jerome Adams said on Sunday the federal government hopes to quickly review and approve requests from two big drugs makers for emergency approval of their vaccines.
Meanwhile, crude oil prices fell in Asia after a panel of Organization of Petroleum Exporting Countries ministers could not reach an agreement on whether to delay January's oil output increase, leaving the matter unresolved before a full meeting of the cartel and its allies on Monday.
MayBank-Kim Eng Retail Research said "technically, the Straits Times Index is still overstretched and has yet to close the breakdown gap at 2,960 points set in March, with near term support at 2,814 points."
Singapore's benchmark Straits Times Index fell 49.87 points to 2,805.95 points. Trading volume was 2.9 billion shares worth 3.65 billion Singapore dollars. Decliners outnumbered advancers 314 to 156.
UOB fell 2.39 percent to 22.51 Singapore dollars. It secured over 3 billion Singapore dollars in foreign direct investment into Vietnam in alliance with Vietnam's Foreign Investment Agency (FIA) and facilitating an additional pipeline of more than 1.5 billion Singapore dollars.
The bank has helped over 150 companies seize opportunities in Vietnam and aims to double the number. Under the terms of the expanded memorandum of understanding, the bank will be focusing on sustainable energy, manufacturing, infrastructure, healthcare and technology sectors.
Vietnam's FIA will also broaden access to investment opportunities beyond Ho Chi Minh City and Hanoi into fast-developing cities of Bac Ninh, Hai Duong, Binh Duong and Dong Nai.
Among top gainers, Jardine Matheson rose 0.32 percent to 53.07 Singapore dollars, while DBS Group Holding became one of the top losers by falling 1.87 percent to 25.2 Singapore dollars. (1 U.S. dollar equals 1.34 Singapore dollars)
Get a daily dose of Malaysia Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Malaysia Sun.
More InformationWASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
New Delhi [India], July 9 (ANI): Former Australian fast bowler Gordon Rorke passed away at the age of 87. Rorke, known for his towering...
LHASA, July 9 (Xinhua) -- At an apple base in Bepa Town of Nyingchi, southwest China's Xizang Autonomous Region, which sits at an altitude...
New Delhi [India], July 9 (ANI): In a landmark moment for Indian pickleball, Vanshik Kapadia, representing the All India Pickleball...
Wellington [New Zealand], July 9 (ANI): Ahead of the tri-series against Zimbabwe and South Africa, New Zealand have suffered a major...
Gurdaspur (Punjab) [India], July 9 (ANI): The Anti-Gangster Task Force (AGTF) Punjab has successfully stopped a major terror plot by...
LONDON, U.K.: This week, BP appointed Simon Henry, former Shell finance chief, to its board as a non-executive director effective September...
OTTAWA, Canada: With Canada Post struggling to maintain operations amid labour unrest, rivals like FedEx and UPS are stepping in to...
NEW YORK, New York - U.S. and global markets showed a mixed performance in Tuesday's trading session, with some indices edging higher...
PARIS, France: French military and intelligence officials have accused China of orchestrating a covert campaign to damage the reputation...
NEW DELHI, India: Birkenstock is stepping up its efforts to protect its iconic sandals in India, as local legal representatives conducted...
HONG KONG: China has fired back at the European Union in an escalating trade dispute by imposing new restrictions on medical device...