THE Straits Times Index on Monday tracked movements in the Dow futures throughout the day, eventually ending a net 0.83 of a point lower at 3,121.51.
Turnover dropped off sharply from last week's S$1.5 billion average to S$1.07 billion with 2.6 billion units traded. Excluding warrants, there were 234 rises versus 256 falls.
At 5pm, the Dow futures stood 66 points weaker, possibly as the market comes to grips with rising US interest-rate expectations.
In the federal funds futures market, the implied probability of a 25 basis-point interest-rate hike at the March 14-15 Federal Open Market Committee meeting is now 96 per cent, compared to 90 per cent last Friday and 40 per cent last Monday.