Week when brokers talked of 'false starts' and 'false alarms'

EXPECTATIONS that the European Central Bank (ECB) would unleash its own version of the US Federal Reserve's "quantitative easing" or QE programme gave traders in local stocks an opportunity to exploit the "buy in anticipation, sell on news" play this week, the Straits Times Index shooting up 20 points on Wednesday before the ECB's Thursday meeting but weakening afterwards.

Also playing a part were hopes of a permanent ceasefire in Ukraine which helped boost markets early in the week, but these hopes were then dashed when talks between the opposing parties failed.

In Friday's session, the STI fell 4.61 points to 3,341.73, though it had earlier lost about 19 points. For the week, the index gained 14 points.