A NEW day, another nondescript session. The Straits Times Index (STI)
on Thursday displayed all the verve of a patient on life support,
finishing a coma-inducing session a nett 3.3 points weaker at 3,327.84.
Turnover amounted to a weak 907 million units worth S$912.4 million;
and excluding warrants, the advance-decline score of 208-221 which left
about 400 stocks either not traded or unchanged suggested that many
investors and traders spent their time indulging in other more exciting
pursuits, among them watching grass grow.
For want of better reasons, most brokers pointed to Greece and China
as the main reasons for the weak state of trading, though many privately
admitted that trading has been dead for many months now.
Still, with China's stock market gyrating as much as 10 per cent per
day and with Greece still tottering on the brink of financial ruin, it
stands to reason that sentiment here must have been affected.
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