Singapore shares end broadly weaker despite banks pushing STI up

THE Straits Times Index (STI) on Tuesday drifted within a narrow band before finishing at 2,955.23 for a gain of 3.04 points on the day after a late spike up in the Dow futures suggested a seventh consecutive rise in the Dow Jones Industrial Average on Tuesday, and after Europe opened in the black.

Turnover was below average by recent standards at 2.3 billion units worth S$1.1 billion and the broad market was marginally weak, recording 190 rises versus 235 falls excluding warrants.

All three banks rose, their combined gains adding about seven points to the STI. These gains came despite Fitch Ratings and Moody's Investors Services releasing negative outlooks for the region's banks.