Market mixed ahead of Yellen report

INVESTORS held their breaths mid-week as they searched for signs on when the US Federal Reserve would start reducing its massive balance sheet ahead of Fed chief Janet Yellen's two-day semi-annual monetary policy testimony beginning Wednesday night.

The pause meant that the benchmark Straits Times Index (STI) extended its losses for a second day, falling 9.89 points or 0.31 per cent to end lower at 3,208.91 on Wednesday, even as the Dow futures was hovering in green territory.

Turnover amounted to 2.17 billion worth units S$1.13 billion. Trading in the broad market was mixed - excluding warrants, gainers beat losers 210 to 208.