STI's losing streak extends into 9th day
Index drops 5.26 points despite firm Europe opening, bringing total loss since April 21 to 193 points
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FOR the ninth straight session the Straits Times Index (STI) on Thursday opened in the red, at its intraday low losing 24 points at 2,749. A firm opening for Europe and a 90-point rise in the Dow futures prompted a scramble that elevated the index to almost its opening level but it was unable to cross into the black, resulting in a net loss of 5.26 points at 2,767.81.
It was the ninth straight loss for the index, a losing streak that extends back to April 21 when it closed at 2,960.78. The loss since then has been 193 points or 6.5 per cent.
Turnover was a mediocre 986 million units worth S$1 billion and excluding warrants, there were 172 rises versus 177 falls.
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