Singapore shares close lower as STI dips below 3,000

THE last time the Straits Times Index (STI) crossed 3,000 in early November 2015, it stayed there for three days. This time, the stay lasted one day less - on Thursday, the STI endured a second consecutive loss, this time by 7.94 points at 2,993.

This was most probably in response to a plunge in the Dow futures ahead of an expected weak Thursday for a Wall Street that was said to be disappointed with US President-elect Donald Trump's Wednesday press conference.

Earlier on Thursday, gains in Global Logistic Properties (GLP), which is in talks to be sold, DBS and UOB helped push the STI to an intraday high of 3,022 before it was swept under by afternoon selling.

Turnover excluding warrants amounted to 1.7 billion units worth S$1.2 billion and excluding warrants, the advance-decline score was 215-233.