AFTER Tuesday's 51-point loss, the Straits Times Index (STI) on Wednesday managed a 9.09- point rebound to 3,349.84. Turnover, which rose to S$1.7 billion on Tuesday, amounted to 1.3 billion units worth S$1.5 billion. Excluding warrants, there were 199 rises versus 249 falls.

On Tuesday, business done in the 30 STI components was S$1.3 billion or 76 per cent of total volume. On Wednesday, the 30 index stocks chalked up volume of 318 million units worth S$1.1 billion, about 73 per cent of the total.

Tuesday's high index turnover was believed to be "portfolio rebalancing'' which involved selling Singapore stocks to make way for China stocks, after MSCI said it was considering including China A shares in its emerging markets indices.