Daily Markets Briefing: STI down 0.34%

Find out who the biggest losers were.

According to KGI Fraser, east Asian markets were once again in a bloodbath of red as Japan entered a recession for the second time in two years, along with the negative sentiments from last week spilling over to this week.

Here’s more from KGI Fraser

However, the negative sentiments did not seem to affect the Chinese market much, which started the session in negative territory before ending higher at the close; even when the Chinese authorities announced that margin requirements for stocks will be doubled to 100% from 50% previously.

In Singapore, the STI traded down 9.95 points (or -0.3%) to close at 2,915.73.

Key losers that weighed on the index include, UOB (-1.7%; HOLD, TP: S$20.88), Singtel (-1.3%) and Genting Singapore (-3.2%). Wilmar (+1.7%) and Global Logistic Properties (+1.4%) were the key gainers that helped prop up the Singapore benchmark.