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Singapore shares close mixed; STI gains but broad market weakens

Tuesday, November 29, 2016 - 17:28

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THE Straits Times Index drifted for most of Tuesday's session, tracking movements in the Dow futures and Hong Kong before ending at 2,879.14 for a gain of 4.49 points on the day.

More importantly, however, was that turnover slipped to 1.9 billion units worth S$1.03 billion compared to Monday's S$1.1 billion. Excluding warrants there were 177 rises versus 225 falls.

Traders said that there were signs that the post-Trump, "risk-on" rally might be losing momentum, probably as markets come round to the realisation that his election promises - difficult though they may be to implement - would result in higher US interest rates and possibly lower international trade.

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