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Singapore: STI ends weaker on the day, up 2.4% for the quarter
For all of Tuesday, the final trading day of the first quarter, trading was relatively quiet and boring - pretty much in line with the pattern of the past few days. The Straits Times Index spent half the day in the black and half in the red, eventually ending 7.25 points weaker at 3,447.01.
Turnover, however, improved to 1.4 billion units worth S$1.4 billion, the average value per unit done of S$1 an improvement on Monday's S$0.60. Excluding warrants, the market recorded 205 rises versus 240 falls. The STI's first quarter performance was a gain of 2.4 per cent.
Brokers described the session as largely uneventful; one wondered if investors were still in mourning, a reference to the passing of former prime minister Lee Kuan Yew last week.
The day's most active stock was Sino Construction, which rose S$0.012 or 34.3 per cent to S$0.047 on volume of 111.3 million. The company on Monday announced a placement of 262 million new shares to four individuals at S$0.0248 per share to raise S$6.5 million. In February the company announced that the management team and executive directors who were present in FY14 had left the company and that it expected to report a loss for the year.