Late bounce limits STI's loss to 8 points

WALL Street may have risen slightly on Wednesday but a 100-point loss in the Dow futures after trading closed meant Thursday was a weak day for the local market, as it was for the rest of the region.

However, given that the Straits Times Index (STI) first lost as much as 30 points before closing with a net loss of just 8.23 points at 2,805.48, there was a good chance that the US market would not sell off on Thursday as badly as the futures market anticipated.

Turnover remained elevated at above the S$1 billion mark for the second consecutive day with two billion units worth S$1.3 billion done. Excluding warrants there were …