THE Straits Times Index on Thursday drifted to a 6.89 points loss at 2,884.69 in low volume of 977 million units worth S$1 billion. Excluding warrants there were 163 rises versus 222 falls and the 30 STI components contributed S$738 million or 74 per cent of total dollar turnover.In short, it was a session devoid of redeeming features, pretty much in line with the dozens that preceded it this year.
Part of the reason for the listlessness was that Wall Street on Thursday is closed for Thanksgiving whilst adding to the quietness was weakness in Hong Kong and China.
All three banks closed weaker, though OCBC stood out with an S$0.08 loss at S$8.72 in high volume of 14.8 million. Trading in OCBC alone was worth S$129.4 million or almost 13 per cent of the whole market's business.
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