STI up 4 points in a forgettable week

THE local stock market this week was unable to shake off the stupor that has enshrouded it for many months now, with daily volume regularly dipping below the S$1 billion mark, with retail presence almost totally absent and with tradeable ideas noticeably lacking.

Even when there was tradeable news, brokers reported no discernible impact; one of them observed that "companies can announce multi-million dollar contracts and nobody is interested".

The Straits Times Index, though, enjoyed some support mainly via the banks but as many observers know, a gain for the index does not equate to a strong week for the market, at least not in the current environment.