A SOFT session that ended with the Straits Times Index (STI) 13.34
points weaker at 3,320.33, low volume of 1.4 billion units worth S$1.01
billion, not much action in blue chips or penny stocks - some brokers
rated Monday's trading in the local stock market about as exciting as
watching grass grow.
Various reasons were given for the funk the local market has found
itself in for many months now - Greece's never-ending debt problems,
uncertainty over when the US will raise interest rates, the vast
explosion of interest in China stocks despite the country's slowing
economy and a withdrawal of liquidity after the US Federal Reserve ended
its QE (quantitative easing) programme.
All these factors have combined to drag most regional bourses lower -
with the exception of Hong Kong, which has enjoyed large volume and
interest following its link to the Shanghai exchange.
On Monday, the STI traded mostly in the red, dragged lower by falls
in Singtel, the Jardine stable and the banks. Turnover paled in
comparison to Monday last week when volume spiked up to S$1.7 billion,
possibly as fund managers sold in anticipation of Singapore having to
make way for China 'A' shares in MSCI's emerging market (EM) Index.
No comments:
Post a Comment