Singapore shares close broadly weaker despite STI's rise
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MONDAY's column suggested that the market looked likely to remain trapped within a trading range because of the opposing forces buffeting it - on the upside was Friday's weak US jobs report that indicated a slower pace of interest rate hikes, while on the downside, there were heightened geopolitical risks from events in Syria and France's upcoming presidential election.
As it turned out, the Straits Times Index (STI) moved within a narrow band on Monday, eventually finishing a net 4.18 points higher at 3,181.45. However, the broad market was weak, with 201 rises versus 295 falls excluding warrants.
Turnover reflected the heightened unsureness currently infusing sentiment - it amounted to a low two billion units worth S$943.3 million.
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