STI drifts lower in thin volume

DESPITE Hong Kong re-opening after the Easter Monday holiday, trading in the local stock market on Tuesday remained listless, with the Straits Times Index drifting 11.21 points lower to 2,819.08.

Turnover remained subdued at 1.5 billion units worth S$970 million; in comparison, last Thursday's volume was S$1.2 billion. Excluding warrants, there were 181 rises versus 201 falls.

Retail brokers reported only minimal incremental business during the past three to four weeks and that even this has now vanished.