Singapore shares close mixed, despite STI falling for 3rd straight day

SELLING in the shares of the three banks on Wednesday dragged the Straits Times Index to its third consecutive loss - down 12.55 points to 3,000.22.

Turnover amounted to 1.6 billion units worth S$1.1 billion, the dollar value elevated by volume done in the banks which was S$224.6 million or 20.3 per cent of the total.

Excluding warrants there were 241 rises versus 197 falls throughout so the session was more mixed than the index's reading would indicate.

The weakness came despite a 20-point rise in the Dow futures which suggested a firm Wednesday for Wall Street, as well as a 1.1 per cent rise in the Hang Seng Index.

These gains, as well as those for the UK pound, came after British Prime Minister Theresa May on Tuesday outlined her plan for her country's withdrawal from Europe that was seen as being slightly more constructive than feared.