STI dips after 'train wreck' US presidential debate

SINGAPORE shares fell in tandem with several regional markets after what some called a"train wreck" US presidential debate on Wednesday morning , with the Straits Times Index down 4.99 points or 0.2 per cent to 2,466.62.

About 1.5 billion securities worth S$1.37 billion changed hands, with losers just slightly outnumbering gainers 200 to 198. Across the region, the Nikkei 225 fell 1.5 per cent and the Shanghai Composite fell 0.2 per cent, while the Hang Seng Index rose 0.8 per cent and Malaysia's KLCI added 0.06 per cent.

The worst performers on the index were CapitaLand Mall Trust, which fell S$0.06 or 3 per cent to S$1.93, and CapitaLand Commercial Trust, which fell S$0.05 or 3 per cent to S$1.64. This came after both sets of unitholders voted resoundingly in favour of the proposed merger on Tuesday. RHB Research analyst Vijay Natarajan said this could be due to investors who are not keen on the merged entity selling it since the deal is passed now."Probably they don't want exposure to the merged entity, and now that the voting has cleared the hurdle for the merger and it is most likely certain to happen, it could have prompted some funds to sell.

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