STI stages rebound on Friday, erasing losses

EXPECTATIONS of a better nonfarm payroll and unemployment data from the United States helped to give local stocks a push late in the day, even as some local earnings were weaker and growth remained modest for China's services sector in October.

The benchmark Straits Times Index (STI) edged up a touch on Friday to 3,382.31, up 1.81 points or 0.05 per cent, after retreating from an intraday high of 3,383.60. Gains earlier in the week were wiped out by profit-taking, bringing the total loss for the week to about four points.

Turnover for the day came in thin at two billion worth S$0.9 billion or an average of S$0.45 a unit. Excluding warrants, gainers beat losers 211 to 207, indicating mixed trading.