STI's losing streak extends into 9th day

FOR the ninth straight session the Straits Times Index (STI) on Thursday opened in the red, at its intraday low losing 24 points at 2,749. A firm opening for Europe and a 90-point rise in the Dow futures prompted a scramble that elevated the index to almost its opening level but it was unable to cross into the black, resulting in a net loss of 5.26 points at 2,767.81.

It was the ninth straight loss for the index, a losing streak that extends back to April 21 when it closed at 2,960.78. The loss since then has been 193 points or 6.5 per cent.

Turnover was a mediocre 986 million units worth S$1 billion and excluding warrants, there were 172 rises versus 177 falls.