SINGAPORE - The local market cooled following two days of gains as investors moved to take profits.

However, it remains on a firm footing as positive signals emerged from major economies.

The benchmark Straits Times Index (STI) closed at 3,338.44, down 0.2 per cent or 6.67 points, taking its full-week drop to 0.95 per cent.

Today's decline is mostly spurred by investors selling on a high, Fundsupermart general manager Wong Sui Jau said.

"Singapore was the only major market in Asia that fell yesterday. I don't see any undue worries - probably just investors exiting for profits. Confidence has picked up over the last few days, taking cue from gains at Wall Street while the European Central Bank (ECB) looks set to start its quantitative easing."