The benchmark Straits Times Index (STI) rose 34.69 points or 1.28% as at 12.58pm to 2,746.08 on Nov 16 on hopes of a working Covid-19 vaccine, as well as on better 3Q results.
W-o-w, the STI surged 5.2% from 2,609.36 previously, continuing its upward trend since last week.
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SATS Limited and Genting Singapore saw the highest gains of 25.2% and 18.1% respectively.
The CEO of SATS announced on Nov 12 that the company, which handles airline catering, airfreight and other gateway services, is also able to transport the experimental Covid-19 vaccine developed by Pfizer.
See: SATS able to transport Pfizer’s experimental Covid-19 vaccine at low temperatures: CEO
Genting Singapore, on Nov 14, reported earnings of $54.5 million for the 3QFY2020 ended Sept 30, compared to losses of $163.3 million in the 2QFY2020 ended June 30.
See also: Local gamblers drive Genting Singapore back into the black with 3Q earnings of $54.5 million
Read all the STI watch articles here.
