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Singapore shares finish lower; STI down 2.2% for week
THE penultimate week of 2016 was not particularly memorable as the Trump-inspired rally of the previous five weeks lost momentum and as liquidity drained rapidly away.
On Friday, the eve of Christmas eve, the Straits Times Index dropped 10.99 points to 2,871.05, bringing its loss for the week to 66 points or 2.2 per cent. Turnover was a thin 1.5 billion units worth S$593.1 million. Excluding warrants, there were 174 rises versus 216 falls.
To be honest though, this was not surprising - the Christmas/New Year holiday period traditionally sees trading wind down to a virtual standstill as traders close their books and depart for their vacations, and this year was no different.