STI rebounds after five straight losses

AFTER having fallen 109 points in five straight sessions up to Monday, the Straits Times Index on Tuesday rebounded 25.15 points to 2,999.56. This was in line with an overnight rally in Wall Street and gains in Hong Kong and China, although weakness in the Dow futures probably led to a stalling of the upward momentum - the index rose to near its closing level in the late morning and stayed there for all of the second half.

As has become the norm in past months, turnover was low at 1.3 billion units worth S$880.3 million. Volume in STI components amounted to 220.4 million units worth S$603.5 million, which means that non-STI stocks only contributed about S$277 million or 31 per cent of …