Market Update: STI recovers from 0.1% dip on Wednesday

The Straits Times Index ended Thursday trade higher by 11.39 points or 0.41% at 2,822.34.

The gain was pulled mainly driven by tthe news that the UK had approved the Pfizer/ BioTNech Covid-19 vaccine to be used in emergency situations.

Meanwhile, the latest PMI data indicated that business conditions worsened faster in November, dragged by a renewed decline in output.

Business expectations for next year also slumped as slower recovery and uncertainties of the business environment ensues.

On to the banking sector, Singapore’s giant banks boost their efforts to help small and micro businesses that have been hit hard by the pandemic, securing them their much needed funding

The London's FTSE 100 also ended in the positive territory, ending at 6,490.27 up by 0.42%

FTSE 250 on one hand reached 20,000 level, ending up by 1.28% at 20,132.44.