Market weighed down by bank stocks

THE Straits Times Index (STI) on Thursday drifted to a 12.73-point loss at 2,848.46, amid low volume of 990.4 million units worth S$879 million. Of the dollar value, S$622 million or 71 per cent was done in the 30 STI components. Excluding warrants, there were 114 rises versus 262 falls. It was the index's third consecutive fall, bringing the three-day loss to about 52 points or 1.8 per cent.

The index was weighed down by weakness in the banks and Ascendas Reit (A-Reit), the latter after it announced a large place…