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STI close 0.41% higher
Tue, Dec 16, 2008
AFP

The blue-chip Straits Times Index rose 7.33 points to 1,782.09 on thin volume of 789 million shares worth $643 million.

Losers led gainers 195 to 161, with 921 issues unchanged.

Traders said the local bourse showed little reaction to an expected interest rate cut later Tuesday by the US Federal Reserve. They said the market had already anticipated a cut of 50 basis points to the key interest rate.

The central bank's Federal Open Market Committee was expected to cut its base lending rate from the current level of 1.0 per cent, in a largely symbolic move.

"It's very quiet. Nobody seems keen to make any decisive calls on the market at the moment," a trader said.

Among key losers, shipping firm Neptune Orient Lines fell five cents to 1.21, while property play CapitaLand dropped nine cents to 2.76.

Singapore Airlines rose 34 cents to 11.40.

Banks closed mixed, with DBS down 14 cents to 9.96, UOB unchanged at 13.28 and OCBC up 12 cents at 5.32.
Agribusiness giant Wilmar International finished a penny higher at 2.90.

 

 
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