STI up but broad market down

THE Straits Times Index (STI) rose by 10.33 points to 3,444.57 points on Wednesday but the broad market weakened in low volume, recording an advance-decline score of 184-247. Traders felt the weakening was possibly in anticipation of Wednesday selling on Wall Street, given that the Hang Seng Index dropped almost 0.9 per cent and Europe opened in the red in the late afternoon.

Turnover amounted to 1.1 billion units worth S$974 million, down from Tuesday's S$1.1 billion and last week's S$1.2 billion average. The largest index mover was Global Logistic Properties (GLP), whose S$0.08 or 3.2 per cent jump to S$2.58 came with 23.2 million done and added 2.8 points to the index.

Among the banks, DBS finished just S$0.01 higher at S$19.51. Maybank Kim Eng (MKE) in its "buy" on DBS said there were positive vibes from the bank's management at its results briefing earlier this week.