AFTER Tuesday's 51-point loss, the Straits Times Index (STI) on
Wednesday managed a 9.09-point rebound to 3,349.84. Turnover, which rose
to S$1.7 billion on Tuesday, amounted to 1.3 billion units worth S$1.5
billion and excluding warrants, there were 199 rises versus 249 falls.
On Tuesday, business done in the 30 STI components was S$1.3 billion
or 76 per cent of total volume. On Wednesday, the 30 index stocks
chalked up volume of 318 million units worth S$1.1 billion, about 73 per
cent of the total.
Tuesday's high index turnover was believed to be "portfolio
rebalancing'' which involved selling Singapore stocks to make way for
China stocks, after MSCI said it is considering including China A shares
in its emerging markets indices.
According to the Financial Times, only China stocks listed in Hong
Kong are included in the indices, although New York-listed China
companies - including Alibaba and Baidu - will join them from November
this year.
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