STI weakens ahead of likely fall on Wall St

THERE were no surprises in Monday's session at Singapore Exchange, with the Straits Times Index (STI) first rising 18 points to an intraday high of 3,430 in response to Friday's bounce on Wall Street but eventually finishing with a nett loss of 2.31 points at 3,410.13 in line with a reversal in Hong Kong and a weak opening for Europe that pointed to the likelihood of a soft Monday for the US market.

Turnover was a modest 950 million units worth S$957.6 million and excluding warrants there were 218 rises against 186 falls.

Brokers said the death of Singapore's first prime minister Lee Kuan Yew had little if any impact on the market.