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Singapore stocks weaken over the week, STI down 0.9% on geopolitical concerns
THE ebb and flow of geopolitical events dictated the direction of this week's trading. With one eye firmly cocked in the direction of North Korea where there is a stand-off brewing with the US and the other at the UK and Europe where key elections are upcoming, traders cut back on their positions, resulting in lowered daily liquidity.
On Friday, the Straits Times Index (STI) managed a second consecutive rise after four straight losses, gaining 1.95 points at 3,139.83. For the week, it lost 30 points or 0.9 per cent.
Turnover however, amounted to a mediocre 2.2 billion units worth S$1.09 billion and excluding warrants there were 279 rises versus 167 falls.