Traders: Dull day, so we watch the Olympics
Wall Street indices at record highs overnight but Singapore trading was lacklustre probably due to fall in Dow futures
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THE Straits Times Index on Tuesday drifted to an 8.41- point loss at 2,858.80, on low volume of 1.07 billion units worth S$826.6 million. It was the second successive day that dollar volume fell below the S$1 billion mark. Excluding warrants there were 190 rises versus 196 falls.
On Monday, Wall Street's three major indices closed at all-time highs - only the second time this year this has occurred. However, perhaps because the Dow futures on Tuesday dropped about 35 points in Asian trading hours, trading here was lacklustre, with activity dull and devoid of many redeeming features.
"We are all glued to our screens," said a dealer. "The TV screens, that is. The market is on holiday so we might as well watch the Olympics."
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