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STI flat as investors stay on sidelines

Lack of direction in the market contributed to cautious stance, with gainers on a par with losers

Published Wed, Jul 18, 2018 · 09:50 PM

SINGAPORE stocks opened higher on Wednesday, but a lack of direction and drivers pared gains in the key Straits Times Index (STI) and led it to finish flat on the day.

Its performance broadly tracks a similar oscillating trend in the US markets, with analysts noting that stock indices have been rising and falling without prominent drivers.

The STI finished 0.86 point or 0.03 per cent higher at 3,240.50. Turnover stood at 1.43 billion shares worth S$1.02 billion compared with Tuesday's 1.6 billion shares worth S$1.1 billion. Gainers barely outnumbered losers 189 to 182.