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STI dips 0.02% to extend losing streak to seven sessions

Published on Aug 23, 2013 6:38 PM

THE Singapore market dipped very slightly on Friday to extend its losing streak to seven sessions.

The benchmark Straits Times Index was trading higher for much of the session but a late dip took it to a close of 3,088.85 points. That was virtually unchanged from Thursday's close but still represented a small loss of 0.55 point or0.02 per cent.

Officially, then, the index has lost value for the last seven sessions.

Decliners included Jardine Cycle & Carriage, down 85 cents or 2.3 per cent to $36. The stock has been volatile recently due to concerns over its unit PT Astra International, which operates in Indonesia. Indonesia has been hit by the recent outflow of funds from the region and the rupiah has dropped sharply.

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