Thursday, July 10, 2008

DJ MARKET TALK: STI Off 0.9%; 2Q GDP Keeps Mood Cautious-Trader

STI heading slightly lower again at start of afternoon session despite mild bullish lead from U.S. pre-market futures; STI down 0.9% at 2890.43, support tipped at last week's intraday low of 2862. STI failing to follow HSI, Nikkei into positive territory; trader at local house says this may be down to weaker-than-expected advance 2Q Singapore GDP; "we might be underperforming because of the GDP figures, although the main problem is there's just no catalyst to buy right now." Broad market volumes remain thin with losers outnumbering gainers 341 to 119.

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