THE Straits Times Index dropped 25.57 points to 2,859.12 on Friday, bringing its loss for the week to 58 points or 2 per cent and for the year to 15 per cent. Turnover throughout the five days was low and focused mainly in blue chips and penny stocks.Overseas markets provided little direction, most probably as traders wait either for the December US Federal Open Markets Committee meeting at which an interest rate hike is widely expected, or the International Monetary Fund's (IMF's) decision on Monday whether the Chinese yuan should be admitted as a reserve currency.
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