STI struggles to hold gains amid lack of drivers

AMID a lack of significant drivers, Asian markets saw mixed results on Wednesday as they tried to build on the previous day's gains, and Singapore was one of those that came out on the losing end.

The key Straits Times Index (STI) climbed in the morning session to 3,212.16 just before the break, and appeared to stay strong in much of the late session. It ultimately gave up all gains to close 0.06 per cent or 1.89 points lower at 3,198.39.

"Singapore's market performance remains lacklustre with many stocks unable to hold on to intra-day gains. This is against a backdrop of weak economic data and first quarter results season that will start in a month's time," Joel Ng, head of Singapore research at KGI Securities, told The Business Times.