China will stop requiring inbound travellers to go into quarantine starting from Jan 8, the National Health Commission said on Monday. It will also downgrade the seriousness of Covid-19 as it has become less virulent and will gradually evolve into a common respiratory infection.
At closing bell, the Straits Times Index (STI) index was up 8.68 points or 0.27% to 3,266.38 after trading between 3,264.03 and 3,277.94. Volume was 776.42 million shares worth S$427.95 million changed hands. There were 209 gainers and 143 decliners.
The top performing stock in Straits Times Index was Mapletree Logistics Trust which rose 1.28%, while the bottom performing stock was City Developments, falling 0.7%.
The local banks were mostly lower. United Overseas Bank added 0.1% and DBS was up 0.76%, while Oversea-Chinese Banking Corp fell 0.3%.
Asian markets were higher as China announced it was ending its Covid-era quarantine rule for inbound travellers. Japan's Nikkei 225 Index closed 0.2% higher, the South Korea's Kospi Index rose 0.7%, and Singapore's Straits Times Index advanced 0.27%. Indonesia's Jakarta Composite Index was up 1.3%. The FTSE Bursa Malaysia KLCI Index ended flat. Markets in Hong Kong and Australia remained shut for the Christmas holidays.
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