Banks keep STI in positive territory

LAST week's market correction threw traders worldwide into a tizzy, but the local bourse still edged upwards at the close on Monday, fuelled by optimism over banking stocks.

The benchmark Straits Times Index (STI) finished higher by 7.74 points, or 0.23 per cent, to 3,384.98. An afternoon sell-off had pushed the index down from its intra-day peak of 3,399.76 just before 2.30pm.

All the same, losers beat gainers 266 to 208, or about five down for every four up. Close to 2.47 billion shares changed hands, for a value of S$1.62 billion in all.