STI stumbles along with weak Wall Street
Drop of 11.33 points due largely to Jardine Matheson's 2.6% retreat; traders alert for any sign of window-dressing
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AFTER having risen 58 points on Tuesday and Wednesday to reach a 19-month high, the Straits Times Index on Thursday fell back 11.33 points to 3,173.24, most probably in response to a weak Wednesday for Wall Street.
Turnover came to 3.2 billion units worth S$1.2 billion for an average value of S$0.37 per unit and excluding warrants there were 233 rises versus 230 falls throughout.
As was the case on Wednesday when Hongkong Land was the largest index mover, so it was that another Jardine stock was Thursday's biggest influence - Jardine Matheson's US$1.71 or 2.6 per cent drop to US$64.40 on volume of 353,200 cut about six points off the STI.
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