STI posts 1.7% weekly gain in two-tier market

ANYONE who harboured doubt that this is a two-tier market need only study this week's trading for proof.

Action in the top end of the stock size spectrum was heavily concentrated on the banks, Jardine group and to a slightly lesser extent, SingTel, while action in the smaller stocks end was focused on many familiar names like Mirach Energy, Singapore eDevelopment and Oceanus.

There was also a short-selling report on China food company Sino Grandness (SG) to get the pulses and tongues racing in the second line; among index stocks, the continued decline in Genting Singapore's shares caught the eye.