STI volatility punctuates another 'blah' day

APART from a large bounce in the shares of the Singapore Exchange (SGX), followed by a bizarre query from the Monetary Authority of Singapore and a volatile session for the Straits Times Index (STI), there really wasn't much about Wednesday's session to inspire anyone looking to either get in or out of local equities.

"It was another 'blah' day, just like most of the other 'blah' days this year," said a dealer, summing up sentiment nicely.

The STI first raced off to an intra-day high of 3,342, as short-covering momentum from Tuesday carried into Wednesday. However, by early afternoon, it began sliding, and at one stage looked in danger of closing in the red. A late afternoon push however, enabled it to record a nett gain of 13.81 points for the day at 3,331.14. In two days, the STI has bounced about 50 points.