Weak Wall Street blamed for fall

THE Straits Times Index on Wednesday recorded a third consecutive fall, losing 11.4 points to end at 3,459.79. Overnight weakness on Wall Street brought on by an escalation of Greece's financial problems was said to be a major factor, which also affected the region. Since Monday, the index has dropped 27.6 point or 0.8 per cent.

Turnover spiked up to 1.3 billion worth S$1.23 billion compared to the weak S$886 million done on Tuesday. Volume done in the 30 STI components amounted to S$311 million, about 25 per cent of total business. The average value per unit done was S$0.95.

Banks turned in a mixed performance - DBS rose but OCBC and UOB fell. In the property sector, City Developments stood out with a S$0.16 drop to S$10.46 on volume of 1.2 million.