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Singapore shares end flat on Thursday, up 0.5% on the week
IT was a short week for most markets in Asia. And trading typified that of workers who would rather the long weekend start than clock in to the office on Thursday.
In other words, the market lacked energy, with low trade volumes and no catalysts, and traders more intent on booking profits than open new positions ahead of the long weekend.
Market watchers noted that the Singapore market was no different.
In Singapore, the Straits Times Index closed at 3,347.58, down by just 1.06 points or 0.03 per cent.
Despite the shortened trading week, the bourse managed to add 15.60 points or 0.5 per cent from last Friday's close of 3,331.98.
Trading clocked in at 923.26 million securities, 73 per cent of the daily average over the first three months of 2019. Total turnover came to S$952.80 million, 83 per cent of the January-to-March daily average. Across the market, decliners outpaced advancers 230 to 166.
Compared to the broader market, the benchmark index fared better on the day, with gainers and losers level at 15 each.
Among them, Genting Singapore was the blue-chip index's most traded. The casino operator closed flat at S$0.96 with 43.5 million shares changing hands.
The trio of banking counters were mixed on Thursday. DBS Group Holdings closed nine Singapore cents or 0.3 per cent lower at S$27.40 and United Overseas Bank was seven Singapore cents or 0.3 per cent down at S$26.80. But OCBC Bank added five Singapore cents or 0.4 per cent to end at S$11.77.
Among non-STI counters, Tee International ended 0.1 Singapore cent or 0.9 per cent lower to close at 11.3 cents.