STI falls but manufacturing stocks rally

SINGAPORE'S Straits Times Index (STI) might be correcting from technically overbought levels, but in the broader market, electronics and semiconductor-related manufacturing stocks are rallying hard.

Companies such as Frencken Group (+1.7 per cent to S$0.585), Hi-P International (+5.3 per cent to S$1.785), Micro-Mechanics (+9.4 per cent to S$2.03), Valuetronics (+8.5 per cent to S$1.025), Venture Corp (+2 per cent to S$18.90), and UMS (+3.9 per cent to S$1.065) continued to rally to or near their recent highs.

This is despite the STI's fall of 10.47 points, or 0.31 per cent, to 3,375.97 points.