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Market continues to languish
HK slide contributes to weakness; traders latch on to situational plays such as Ezion, which falls 4.6%
Published Mon, May 18, 2015 · 09:50 PM
THE main difficulty dealers have faced in the past year is finding suitable adjectives to describe the local market - printable ones, that is.
Such was the case again on Monday, when the Straits Times Index drifted lower with little liquidity support. It eventually closed a nett 3.53 points weaker at 3,459.57 on volume of 1.7 billion units worth S$961.4 million.
A 0.8 per cent slide in Hong Kong probably contributed to the weakness, although the market there has enjoyed a massive rally lately and was due for a correction. A firm opening for Europe helped halve the STI's loss between 5pm and 5.05pm.
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