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Singapore stocks finish weaker as push on banks fizzles out
SLIGHT follow-through buying of the banks on Thursday first helped the Straits Times Index record a 14-point rise to an intraday high of 3,250 but the momentum was lost once the Dow futures dipped into the red and the index finished the day a net 9.01 points weaker at 3,227.14.
Helping in the morning push was a Wednesday bounce on Wall Street that came on hopes that the Donald Trump administration's tax reform plans will give a boost to the economy and corporate sector. Among the proposals is a reduction in corporate tax from 35 to 20 per cent.
Turnover here was 2.1 billion units worth S$1.3 billion, the highest for the week so far. The advance-decline score excluding warrants was 184-212.