STI rebounds after 2 days of losses

After dropping 58 points on Monday and Tuesday, the Straits Times Index (STI) rebounded by 31.66 points to 2,810.43 on Wednesday, albeit in a lower volume of 2 billion units worth S$1.2 billion. It had been S$1.4 billion on Tuesday, and S$1.5 billion on Monday.

Excluding warrants, there were 243 rises versus 147 falls.

The rise was led by Keppel Corp and Sembcorp Marine. Keppel recovered from a 7 per cent collapse on Tuesday by gaining S$0.23 or 4 per cent at S$6, on volume of 13.3 million. Providing the backdrop was a 50-point rise in the Dow futures, which suggested Wall Street would also rebound from its Tuesday loss during its Wednesday session.