STI gains 23 points in mixed session

THE Straits Times Index rose 23.68 points to 2,943.05 on Monday but perhaps more important was that volume traded amounted to 2.1 billion units worth S$1.1 billion, lower than the S$1.3 billion post-Trump election rally average.

Last week's average was S$1.52 billion but that was heavily skewed by the abnormal S$2.6 billion traded on Wednesday, the last day of the month when window-dressing/portfolio rebalancing most probably occurred. Monday's advance-decline score was a mixed 218-222.

The STI was initially weak in line with falls in regional leaders Japan and Hong Kong, both of which closed in the red. Also threatening to send the STI down was a 40-point loss in the Dow futures; however, by 5pm, this had rebounded to a net rise of 90 points and with Europe opening in the black, the STI had climbed off its intraday floor…