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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (61633)	3/7/2002 2:43:13 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Straits Times Index retreats at noon on blue chip sales Thursday March 7, 1:32 PM sg.news.yahoo.com SINGAPORE (Reuters) - Singapore shares erased early Wall Street-led gains by midday on Thursday as blue chips like Venture Manufacturing fell after a recent heady run and banks dipped ahead of a key corporate result. "There are people looking to buy but they don't like the valuations," said Chew Sutat, associate director at OCBC Securities. "In the absence of that you could see the market volumes shrinking because they all stay out. At the same time, you have net institutional selling." The bellwether Straits Times Index was down 0.65 percent or 11.68 points at 1,787.91 by the break after rising 0.7 percent initially. Gainers edged out losers 137 to 117 in moderately heavy volume of 420 million shares, compared with 404 million at the break on Wednesday.