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Singapore stocks finish weaker, though STI resilient in face of US sell-off
THE resilience displayed by the Straits Times Index (STI) on Wednesday to political upheaval in Washington and turmoil on Wall Street extended into Thursday when the index first plunged 35 points to an intraday low of 3,189 but ended with a net loss of just 2.44 points at 3,221.66 in the wake of the US market's largest sell-off in about nine months.
Turnover was in line with recent averages at 1.8 billion units worth S$1.3 billion; and excluding warrants, there were 167 rises versus 275 falls.
The selling of US stocks on Wednesday came after news that US President Donald Trump may have asked former FBI director James Comey to stop investigating former national security adviser Michael Flynn's alleged links to Russia, the worry being whether such a request amounted to obstruction of justice.