The STI, which crossed the 4,000-point mark for the first time on March 28, has effectively erased six months’ worth of gains and is now back at levels last seen in October 2024.

The Straits Times Index (STI) closed 71.03 points lower, or 2.01% down, at 3,469.47 points on April 8, marking the third consecutive session of declines. 

The STI opened slightly lower at 3,540.37 points on April 8, below its 3,540.5-point close the day prior. The bellwether index popped within the first five minutes of trading, reaching a high of 3,580.86 points, before sinking and trading sideways for the remainder of the day. 

The intra-day low for April 8 was 3,450.3 points. 

The STI, which crossed 4,000 points for the first time on March 28, has effectively erased six months’ worth of gains and is now back at levels last seen in October 2024. 

Among its 30 component stocks, Oversea-Chinese Banking Corporation (OCBC) was the biggest loser for the day, down 4.27% to close at $14.81, erasing six months of gains. 

Mapletree Logistics Trust and Jardine Matheson Holdings J36 posted the second- and third-largest declines for the day, falling 4.17% and 3.74% respectively.

On the other hand, Sembcorp Industries U96 bounced back from being one of the biggest losers the day prior, gaining 7.6% over April 8 to close at $6.23.

Seatrium, which lost more than 14% of its value on April 7, bounced back 2.41% on April 8 to close at $1.70. Seatrium’s shares, however, are now at levels last seen in September 2024, erasing the gains it had accrued in the lead-up to its FY2024 results announcement in mid-February. 

CapitaLand Investment (CLI), too, bounced back from yesterday’s rout to gain 2.06% over April 8, closing at $2.48. CLI shares notched a 52-week low on April 7 after plunging to $2.37.

Chart: SGX