Singapore stocks finish mixed as banks push STI higher

TRADING in the local stock market got off to a quiet start this week, with gains in the three banks pushing the Straits Times Index (STI) up 8.05 points to 3,267.62.

However, the session was more mixed than the index might suggest, as sentiment was dampened by weakness in the Dow futures and a soft opening across Europe. Excluding warrants, there were 199 rises versus 201 falls; and perhaps more importantly, turnover was a low 1.3 billion units worth S$799 million.

Rises in the three banks added almost nine points to the STI in a day when investors and traders were said to be digesting the contents of speeches made by key US central bankers at last week's meeting in Jackson Hole, Wyoming.