oil prices

The benchmark Straits Times Index (STI) plunged 3.91% on Monday morning, after Singapore’s central bank took unprecedented easing steps Monday to support a trade-reliant economy being slammed by the coronavirus outbreak.

ut the issue is even more pressing because global tank capacity, mostly concentrated in a few hubs like Rotterdam, the Caribbean and Singapore, isn’t available to every producer.

Singapore Airlines (SIA) was one of the rare losers on the STI on Friday, even as Singapore unveiled a second stimulus package worth $48.4 billion to give the economy a shot in the arm against the Covid-19 pandemic.

The plan would include about US$500 billion in loans and assistance for larger companies, as well as states and cities, according to the latest drafts being circulated. But the aid comes with strings attached after pressure from Democrats.

The benchmark STI turns cautious, as Singapore reports the biggest quarterly contraction in a decade.

Cargo rates have risen over 10% in recent weeks as some companies are prepared to pay more to ship goods after drastic cuts in passenger flights left airlines with less capacity for cargo.

Investors groove to another green day in the markets. But will this be a boulevard of broken dreams?

In China, leaders are beginning to talk up the prospects for a rapid economic rebound as the spread of the disease appears to be under control.

Will there be a halt to the bloodbath that has taken over the financial markets over the past two weeks?

The STI plunged 7.52%, on Monday morning, after Singapore announced it is stopping all short-term visitors – from anywhere in the world – from entering into the country from March 24.