Banks lift market in quiet but firm day
STI up, taking cue from Dow futures and Hang Seng Index, but volume was low with 1.9b units worth S$858m traded
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THE Straits Times Index (STI) on Monday managed a 17.34-point rise to 3,246.35 in a quiet but firm session in which a low 1.9 billion units worth S$858 million were traded. The index's rise was in tandem with gains in the Dow futures and in Hong Kong, where the Hang Seng Index rose 0.6 per cent.
Also helping was Friday's better-than-expected US jobs report that provided some assurance that economic growth is back on track.
However, although there were 249 rises versus 193 falls excluding warrants, brokers described the session as featureless and lacking in excitement. "It's been like this for many weeks now," said a dealer. "If you're not in certain stocks, then there's not much for you to do or look forward to.".
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