STI falls for fifth day on China worries
Index mirrors HK and Shanghai markets as analysts point to continued sluggishness in China's manufacturing
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THE Straits Times Index on Monday fell for the fifth consecutive session, losing 23.94 points or 0.8 per cent at 2,974.41. Traders here had to contend with weakness in Hong Kong and China following news that China's October PMI was below expectations, as well as softness in the Dow futures which indicated that Wall Street would be weak on Monday.
Volume was a low 1.3 billion units worth S$885.3 million and excluding warrants, there were 129 rises versus 283 falls.
All three banks ended lower with OCBC dropping for the fourth successive day when it lost S$0.08 at S$8.95 on volume of 6.1 million. UOB, whose shares jumped S$0.29 on Friday after it reported its Q3 figures and announced a special dividend, fell back S$0.12 to S$20.21 on volume of 2.3 million.
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