Black gold's red ink puts green in blue chips
Flight to quality sees selling of small oil and gas stocks; ST Index rises 23.8 points
SINGAPORE blue chips climbed on Monday, supported by a flight out of small oil and gas players into safer shores and by expectations of flat interest rates following weak US economic data.
The Straits Times Index gained 0.8 per cent, or 23.83 points, to close at 2,892.52.
Despite the market benchmark's advance, losers outnumbered gainers 228 to 190, or six down for every five up, suggesting an uneven session with blue chips dominating the gainers. A total of 1.2 billion shares worth S$1.33 billion changed hands.
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