ST Index down in quiet trading

OTHER than a spike upwards in the shares of Neptune Orient Lines because of hopes of a takeover and Linc Energy because of a possible sale of assets, there was not much else for traders to focus their energies on.

Turnover was a weak one billion units worth S$685 million, the bulk of which was concentrated on the 30 Straits Times Index (STI) components and excluding warrants there were 163 rises versus 238 falls. The STI in the meantime dropped 14.42 to 2,903.49.

Overseas markets did not provide much guidance - Hong Kong and China were weak while the Dow futures rose marginally in the morning session but weakened in the afternoon. Europe opened in the red, suggesting a soft Monday for Wall Street. "The silence is deafening'' was a dealer's comment which summed up the state the local market currently finds itself.