Singapore index drops more than 1.5 percent on session

The European equities markets were lower again on Tuesday. The FTSE Eurofirst 300 was 0.6 percent lower to 1,587.87. The IBEX fell 0.63 percent to 14,755.2 in Madrid, while the Paris CAC-40 was down 0.82 percent to 5,953.36 and the Dax dropped 0.88 percent to 7,860.52. In London, the FTSE 100 fell 0.44 percent to 6,559.3 and the FTSE 250 was 0.35 percent lower to 11,537.1. The UK defense sector saw declines on news of a US inquiry into a sector member. Insurers and retailers also saw losses, while the oil sector was mixed. The tobacco and food processing sectors saw gains. On the continent, meanwhile, utilities saw gains. Carmakers were mixed, as was the construction sector, while banks saw declines.

Most Asia-Pacific markets were also lower. In Hong Kong, the Hang Seng index was 0.09 percent lower to 21,803.57. The Sydney Ordinaries dropped 0.33 percent to 5,337.3 in Australia. The big loser of the day was the Straits Times index in Singapore, which fell 1.53 percent to 3,525.1. Tokyo’s markets were mixed as well, with the Nikkei 225 0.1 percent lower to 18,066.11 as the Topix added 0.1 percent to 1,765.87. The Sensex was the other exception, adding 0.09 percent to 14,501.08. Export sectors, including carmakers and electronics manufacturers, saw declines. So did the healthcare sector. The real estate sector was higher, however, as were some banks and other financial services.

The New York equities markets were higher at midday. The Dow Jones Industrial Average was up 0.61 percent at mid-session to 13,433.01, while the Nasdaq Composite was 0.39 percent higher to 2,587.07 and the S&P 500 had gained 0.45 percent to 1,504.52. The Russell 2000 index of small and mid-caps was up 0.34 percent to 830.29. Homebuilders declined on the news that new home sales were down in May, while there were gains among luxury goods retailers and in the medical equipment sector on bids news.

Story link: Singapore index drops more than 1.5 percent on session