Fallout from Swiber, O&M sector to continue

THE Straits Times Index has spent most of 2016 in negative territory and Friday's sell-off taking it 1.7 per cent into the red for the year. It was the second time in seven months that it has dipped below its starting level, third if you count the fact that it kicked off the year by falling on the first trading day and stayed there until it crossed its 2015 closing level of 2,882 only in April.

On that occasion in April it remained in the black for about two weeks, then spent all of May below wate…