Mixed session as STI dips in thin trading
Looking ahead, Natixis strategist David Lafferty sees negative surprises and increased volatility for the rest of the year
THE Straits Times Index (STI) spent most of Monday drifting with a slight upward bias as it tracked gains in the Dow futures. However, at 5pm it finished with a net loss of 3.02 points at 3,223.46, this despite a 60-point rise in the Dow futures that indicated a firm opening to the week for Wall Street.
The broad market excluding warrants recorded a marginally firm advance-decline score of 212-197 though turnover which had spiked up on Friday to S$1.26 billion, dropped back to 1.2 billion units worth S$845.3 million. Friday's volume jump, however, was most probably thanks to quarter-ending window-dressing.
Over in Hong Kong, the Hang Seng Index only rose by a modest 0.08 per cent, possibly a factor that capped gains here.
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