Live Updates > Live Update Details
2026-11-04 14:50:26
The Straits Times Index (STI) fell 39 points, or 0.7%, to 5231 near midday on Wednesday, marking its fourth consecutive day of decline, primarily dragged down by bank stocks. The benchmark index hit its lowest level since July 2nd after disappointing earnings reports from heavyweight banks. UOB reported a 182% year-over-year increase in third-quarter net profit, but this still fell short of market expectations. Traders are awaiting third-quarter results from heavyweight banks DBS and OCBC, due on Thursday and Friday, respectively. Persistently high oil prices also weighed on market sentiment, exacerbating concerns about inflation. Weak performance in U.S. stock index futures further weighed on the index after concerns arose over artificial intelligence regulation following the possibility of Democrats winning both houses of Congress. The biggest decliners included UOB (-5.4%), Wilmar International (-1.0%), OCBC (-1.0%), DBS Group (-0.8%), and Singapore Airlines (-0.6%).
