STI erases early loss as banks lead rebound

AFTER bouncing back from losses early in the day, Singapore shares tracked the Dow futures into positive territory on Wednesday, even as fears of geopolitical tensions continue to weigh on investors' minds.

The benchmark Straits Times Index (STI) ended the session up 11.26 points or 0.35 per cent at 3,186.01 after an intraday low of 3,165.22. The reversal, led by gains in financial stocks, Genting Singapore and Global Logistic Properties, was despite losses clocked by index heavyweight Singtel.

Turnover was 2.4 billion units worth S$1.4 billion, comparable to the 2017 average. Excluding warrants, there were 236 risers to 228 falls - a sign of firm trading in the broader market.