Less interest in higher-priced issues

SOMETIMES the movement of the Straits Times Index (STI) doesn't properly represent how the broad market performed at any given point in time. This is often when a few large cap components exert a lopsided influence on the index, thus giving the impression of a session that was either stronger or weaker than it actually was.

Wednesday's session however, was not one such occasion - the STI rose 5 points and stayed there for virtually the whole session, before weakening in the final 20 minutes. Its eventual loss of 6.58 poi…