Singapore shares close mixed in low volume

WEDNESDAY'S trading session at Singapore Exchange (SGX) was one of the quietest in recent weeks, with the Straits Times Index (STI) drifting within a narrow range before ending a net 1.33 points higher at 2,881.98 in low volume of 1.3 billion units worth S$977.7 million.

The broad market excluding warrants recorded 213 rises versus 173 falls. Most of the volume was focused in the 30 index components - S$659 million or roughly 67 per cent. The average value per unit traded was S$0.75.

Activity in banks was subdued, which explains the index's listless showing since banks have been the STI's main movers this year. Similarly, trading in other big index components such as Keppel Corporation and Singapore Telecommunications (Singtel) was also nondescript.

In the second line, shares of property developer Sysma Holdings came under pressure throughout the day, dropping to an intraday low of S$0.08 before a late rebound enabled them to close unchanged at S$0.093 on heavy volume of 30.6 million.

It had lost S$0.014 on Tuesday, drawing a query from SGX. The company replied that it did not know of reasons for the Tuesday fall.

On Wednesday, SGX issued a query to Global Logistic Properties at 2.42pm after the stock jumped S$0.10 or 5.3 per cent to S$1.98 on turnover of 36.2 million. The company replied at 5.07pm that it did not know of reasons for the activity.