Stocks finish mixed in quiet trading
ST Index surrenders most of its early gains, pending developments on the Greece front
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WITH Greece on hold for now - at least until the country's Parliament sits on Wednesday to decide whether to accept the austerity demanded by Greece's creditors - trading in the local market on Tuesday slipped back to a pattern familiar to most observers, namely one marked by mixed and quiet trading focused mainly on penny stocks.
The Straits Times Index (STI) initially rose sharply, possibly thanks to leftover momentum from Friday and Monday's relief rallies, but gains were reversed in the afternoon as the index drifted to 3,316.50 for a net gain of 5.28 points on the day.
Turnover, which has fluctuated around the S$1 billion mark for the past week, amounted to a low 1.2 billion units worth S$892 million. Excluding warrants, there were 222 rises versus 216 falls.
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