STI slips 1% in low-volume, low-volatility week

FOUR consecutive days of losses followed by a rebound on the fifth, a broad decline of interest in penny stocks punctuated by bursts of interest in a few, and no real direction from overseas markets.

In a nutshell, these were the main features of the past week, which it has to be said lent credence to the adage "sell in May and go away".

Between Monday and Thursday, the Straits Times Index dropped 55 points, a loss that was reduced by Friday's 19.23- point bounce to 3,452.01. For the week, the index recorded a 35-point or one per cent fall.