Two-tier market still very much in evidence

THE local stock market has for some time been polarised into the very large and the very small with little in between, and this week's trading was consistent with this pattern.

Among the very large blue chips, most of the interest focused on the banks and in particular UOB, whose rise to a seven-year high on Thursday was largely instrumental in supporting the Straits Times Index that day.

UOB's 19-cent loss at $22.51 yesterday was also pivotal in the index recording a 9.9-point loss at 3,262.59 for the day, though for the week the STI still managed a 10-point or 0.3 per cent rise.