Singapore shares close mixed even as STI rises 23 points

THE Straits Times Index rose 23.68 points to 2,943.05 on Monday but perhaps more important was that volume traded amounted to 2.1 billion units worth S$1.1 billion, lower than the S$1.3 billion average during the post-Trump election rally.

Last week's average was S$1.52 billion but that was heavily skewed by the abnormal S$2.6 billion traded on Wednesday, the last day of the month when window-dressing/portfolio rebalancing most probably occurred. Monday's advance-decline score was a mixed 218-222 so the index's rise was not felt throughout the market.

The STI was initially weak in line with regional leaders Hong Kong and Japan which closed in the red. However, a rebound in the Dow futures from a 40 points loss in the morning to a 100 points gain in the afternoon ensured the STI also bounced, rising off its intraday floor of 2,914.