Lack of cues sees STI giving up gains
Profit taking activity in last half hour sends index slipping 11.23 points or 0.35% to close at 3,222.84
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HAVING a lack of direction is not always bad, as long as one does not drift too far out.
On Wednesday, the lack of market catalysts meant that Singapore's Straits Times Index (STI) was, for the most part, static. However, some profit taking activity in the last half hour of the session sent the benchmark index slipping to close at 3,222.84, down 11.23 points or 0.35 per cent.
CMC Markets' Margaret Yang noted that the Singapore blue-chip index has followed US indices into a consolidation period. Perhaps investors were just waiting for fresh catalysts from the prospective US-China trade agreement and the US non-farm payroll this Friday.
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