STI's correction runs into third day

THE Straits Times Index's correction from a five-month high of 2,960 last Thursday extended into a third consecutive day on Tuesday when it dropped 5.62 points to 2,894.66, bringing its three-day loss to 66 points or 2.2 per cent.

Turnover was below-average at 847.8 million units worth S$963.4 million and excluding warrants there were 190 rises versus 207 falls in the whole market.

It was a volatile session for the index as traders tracked the swings in Hong Kong and the Dow futures. The Hang Seng first dropped sharply before closing in the black while the June Dow contract traded 19 points higher at 5pm local time.