STI steadies to end 0.08% lower

AFTER starting the week rattled by financial turmoil in Turkey, Asian markets found their footing on Tuesday, with analysts noting that the quieter mood reaffirmed that Monday's sell-off was based more on a risk-off sentiment rather than on fundamentals.

Seoul, Tokyo and Sydney recorded gains after falling the day before. On the Singapore bourse, the key Straits Times Index ended flat at 3,242.87, down a mere 2.47 points or 0.08 per cent from 3,245.34 the day before.

About 1.84 billion shares worth S$1.06 billion changed hands in the session, compared with 2.31 billion shares worth S$1.2 billion on Monday. Losers slightly outnumbered gainers 208 to 201.