UOB, DBS price pullback hits STI

CONTINUED price pullback of UOB and DBS shares, and a soft opening for Europe meant the Straits Times Index finished a nondescript Wednesday 8.44 points weaker at 3,283.71. Turnover remained weak at one billion units worth S$1.02 billion and excluding warrants, there were 195 rises versus 219 falls throughout. Losses sustained by the two banks contributed six points towards the index's loss. DBS ended $0.17 lower at S$19.26 with 3.7 million shares traded and UOB fell S$0.19 to S$22.90 on volume of 2.6 million shares. OCBC in the meantime, managed to recoup S$0.04 to close at S$10.14 with 3.8 million shares done.

Elsewhere within the index, Genting Singapore's shares dropped S$0.025 to S$1.015 with 66.1 million shares traded after the casino operator reported a 50 per cent drop in third-quarter…