Banking, consumer staples weigh on STI

AHEAD of the delayed announcement of US tax reform and confirmation of the next US Federal Reserve chair, "Super Thursday" as some dubbed it, was not that spectacular for the local market nor quite a few regional indices.

The benchmark Straits Times Index (STI) retreated 11.11 points or 0.33 per cent to close lower at 3,380.50, dragged by losses in stocks in the financial and consumer staples sectors.

Turnover for the day came in at 2.3 billion worth S$1.1 billion. Excluding warrants, losers beat gainers 285 to 170, indicating weak trading.