Straits Times Index slips 0.43% on profit-taking

THE Singapore market took a breather today, as investors locked in recent gains to send the benchmark Straits Times Index down 14.16 points, or 0.43 per cent, to 3,259.75.

Some 5.7 billion shares worth $1.8 billion changed hands.

Dealers said the market lacked fresh impetus, and struggled to find fresh inspiration after Wall Street's near-flat finish overnight.

Still, regional markets ended mostly mildly higher on an improved global outlook.

Japan was up 0.39 per cent, Shanghai added 0.53 per cent and South Korea rose 0.84 per cent.

But Hong Kong shed 0.07 per cent as Industrial & Commercial Bank of China slid after Goldman Sachs sold a stake in the lender.

Back home, the 30 STI component stocks ended mixed with 12 gainers, 15 losers and three unchanged.

The day's most active counter was Ipco International, which rose 0.3 cent to 2.5 cents with 604.7 million units done after ex-Malaysia law minister Mohd Zaid Ibrahim agreed to subscribe for 350 million new shares at 1.98 cents apiece.