STI loses steam as sell-off in US tech bites
Gains disappear as investors turn cautious after technology stocks on Wall Street tumbled overnight
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IT was another down day for the Singapore bourse as it echoed the same note across most other key Asian bourses on the back of a mixed showing in US stock indices and a lack of fresh leads which some analysts say could signal the start of the typically quiet year-end trading period.
The Straits Times Index had woken up bright and was up for much of the day but ended on a flat note, closing 0.41 points or 0.01 per cent lower at 3,438.06 on Tuesday, taking the year-to-date performance to a gain of 19.4 per cent.
"Given the historically lighter trading volumes in December, we can expect price swings to be exacerbated, thus creating buying opportunities for companies with solid fundamentals," said KGI Research.
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