STI erases gains in volatile trade
Plunge in Dow futures, weak Europe opening lead to loss of 13.8 points after an earlier gain of 20 points
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THE Straits Times Index's movements on Tuesday were dictated first by the performance of the China and Hong Kong markets, then later by a sharp dip in the Dow futures and a weak opening for Europe.
The eventual net loss of 13.8 points that the STI suffered at 2,868.47 after an earlier gain of 20 points suggested a slide on Wall Street on Tuesday - or perhaps a resumption of the short-selling after Monday's short-covering.
Turnover, however, was a mediocre 1.5 billion units worth S$1.05 billion and excluding warrants the whole market's advance-decline score of 192-212 suggested most players were still cautious about the outlook for equities.
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