Mixed session as STI dips in thin trading
Looking ahead, Natixis strategist David Lafferty sees negative surprises and increased volatility for the rest of the year
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THE Straits Times Index (STI) spent most of Monday drifting with a slight upward bias as it tracked gains in the Dow futures. However, at 5pm it finished with a net loss of 3.02 points at 3,223.46, this despite a 60-point rise in the Dow futures that indicated a firm opening to the week for Wall Street.
The broad market excluding warrants recorded a marginally firm advance-decline score of 212-197 though turnover which had spiked up on Friday to S$1.26 billion, dropped back to 1.2 billion units worth S$845.3 million. Friday's volume jump, however, was most probably thanks to quarter-ending window-dressing.
Over in Hong Kong, the Hang Seng Index only rose by a modest 0.08 per cent, possibly a factor that capped gains here.
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