[SGX] POSSIBLY in response to Wall Street's Monday jump that took the Dow
Jones Industrial Average and S&P 500 to all-time highs, the Straits
Times Index rose 18.22 points or 0.5 per cent to 3,422.11 on Tuesday to
go with Monday's 1.03 points rise. This brings its two-day gain to 19
points after falling 38 points on Thursday and Friday last week.
However, despite the index's gain, the broad market was weak for most
of the day, with falls outnumbering rises. At 5pm, the advance-decline
ratio was 195-238 and turnover at 1.3 billion units worth S$1.2 billion
was in line with recent averages.
Jardine and bank stock were the primary index drivers, although Noble
Group's S$0.065 or 7 per cent rebound to S$1.01 contributed about four
points. The stock had been under intense pressure over the past
fortnight following a short selling attack by a firm known only as
Iceberg Research.
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