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Politics : Formerly About Applied Materials

AMAT 297.52

-6.6%

Feb 4 3:59 PM EST

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To: StanX Long who wrote (63994)	5/24/2002 2:48:58 AM
From: StanX Long	Read Replies (1) of 70976

Straits Times Index flat in cautious trade Friday May 24, 2:02 PM sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares made little headway by the lunch break on Friday as investors remained uncertain about the prospects for economic recovery. The bellwether Straits Times Index was up 0.2 percent or 3.49 points at 1,721.27. It has moved mostly in a five- to 10-point range in the past few weeks as liquidity has dried up, but is still up 5.8 percent this year. The mixed market performance of the past few months also suggests the market has factored in profit growth forecasts for the year and possibly next year. "It's only confirming what the market had priced in," said Chew Sutat, associate director of OCBC Securities. "People are not convinced in any way (about the outlook) that will make them big buyers," he added. Banks, which have had an uncertain week, recouped losses. OCBC Bank rose 0.78 percent to S$12.90, and DBS Group Holdings gained 0.69 percent to S$14.60, while United Overseas Bank was steady at S$14.70.

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