TRADING in the local stock market got off to a cautious but firm start to the week with the Straits Times Index rising 3.78 points to 2,660.65 in response to a 150-point rise in the Dow futures and a 0.9 per cent gain for the Hang Seng Index. Turnover amounted to 1.3 billion units worth S$1.06 billion and excluding warrants there were 234 rises against 132 falls in the whole market.Of the dollar volume, S$744 million or 71 per cent was done in the 30 STI components. DBS, which released its Q4 and full-year figures on Monday, fell S$0.06 to S$13.62 on volume of 9.6 million, contributing S$132 million towards turnover.
"People chased the share up in the morning, then sold in the afternoon," said a dealer. "Classic case of buy in anticipation, sell on news." DBS's intraday high was S$13.94.
In commodities sector, shares of Wilmar International were unchanged at S$3.16 on volume of 12.9 million. The company last week reported a 4 per cent drop in core net profit for 2015 to S$1.16 billion. Fourth quarter profit was 15 per cent lower at S$350.4 million.
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