Investors Buy Speculative Shares
April 26, 2011
The 30-share Straits Times Industrials Index lost 4.59 to 2097.5. The DBS 50 Index of stocks, which is capitalization-weighted with shares from all sectors, edged up 0.1 to 544.99. The UOB-OTC index, which tracks Malaysian shares traded over-the-counter, gained 4.43 to 1167.3. Total market volume was 111.4 million units valued at 266.3 million Singapore dollars. A total of 160 stocks closed higher, 127 lower, while another 262 ended unchanged. Traders said they noticed some fund managers bargain-hunting selected blue chips in the afternoon. However, some traders said that most of their clients were either trimming their positions slightly Wednesday, or staying sidelined. Investors were believed to lack interest because after the disappointing gross domestic product numbers, there was no news to spur interest. The foreign stock of publishing giant Singapore Press Holdings fell 70 Singapore cents to S$23.80, while soft-drink maker Fraser & Neave rose 30 cents to S$14.20.
