STI touches 3,300 points, then flinches

SINGAPORE stocks finished unchanged on Monday, with the benchmark Straits Times Index (STI) up just 0.27 point, or 0.01 per cent, to 3,291.56. This was after hitting a high of 3,300 points early in the morning, and falling to 3,280 points soon after. Losers outnumbered gainers 257 to 193, or about four down for every three up.

"The Straits Times Index is facing some selling pressure at the technical resistance level of 3,300," said CMC Markets Singapore market analyst Margaret Yang in a note on Monday morning. "Investors are also waiting for the earnings season to kick off this Wednesday for a clearer picture."

About 2.16 billion shares worth S$1.05 billion in total changed hands, which worked out to an average unit price of S$0.49 per share.