Singapore shares close firm even as STI slips into the red

THE Straits Times Index on Thursday first powered up to an intraday and 2016 high of 2,980 before wilting in the afternoon session to end at 2,958.86, a net loss of just 0.98 of a point. The broad market however, was marginally firm, recording 240 rises versus 216 falls.

Turnover amounted to 1.8 billion units worth S$1.4 billion, in line with post-US election daily averages.

The early push came from yet another all-time high on Wall Street on Wednesday and a relatively firm session for the Dow future. After earlier rising 30 points the contract stood just five points higher at 5pm, suggesting only a slightly firm opening for Wall Street on Thursday.

Trading in the three banks amounted to S$391 million or around 28 per cent of the whole day's takings. DBS's S$0.18 fall to S$18.14 came with 13.2 million done and accounted for S$241m in value traded.