Singapore shares close mostly higher, albeit with unchanged STI

THE Straits Times Index (STI) on Thursday drifted to a 0.37 of a point rise to 2,828.94. Volume, which has been weak for many weeks remained so at 1.3 billion units worth S$718.1 million, the lowest unit and dollar totals this week. Excluding warrants there were 207 rises versus 131 falls.

There were only few features worth discussing in a session very much like dozens that preceded it. Penny stocks continued to be churned as they have for several months now, interest in blue chips was as soft as it has been for weeks and there was little direction forthcoming from overseas markets - Wall Street rose on Wednesday, but the Dow futures' early fall on Thursday added to the caution, while Hong Kong's 0.8 per cent drop probably didn't help.