STI ends volatile week with net loss of 1.4%

THE local stock market this year has been buffeted by mainly external factors such as Brexit, weak oil prices and concerns over China's economy. This week the focus switched to internal worries brought on by the collapse of offshore and marine (O&M) stock Swiber Holdings, which a week ago filed for liquidation and then changed this to an application to be placed under judicial management.

With Wall Street also faltering - up to Thursday, the Dow Jones Industrial Average fell for seven straight sessions - and with Europe and Japan banking their hopes on more support from their authorities, the Straits Times Index underwent a volatile week. On Friday it fell 3.79 points to 2,828.1…