Analysts were eyeing a technical rally after the index plunged to new lows again on Tuesday, breaching levels reached on Monday when it had closed at its lowest point in more than five years.
'The market is very, very oversold. I'm expecting a major relief rally soon after the recent sharp selldown. It could happen within days,' said a trader at a bank-backed brokerage.
Banking shares closed down. United Overseas Bank fell 12 cents to $9.13, DBS dropped 17 cents to $7.24 and Oversea-Chinese Banking Corp eased four cents to $4.12.
Among property shares, CapitaLand edged up five cents to $1.85, City Developments gained 14 cents to $4.74 and Keppel Land remained unchanged at $1.24.
Full article : BT
Monitoring SPH, UOB, DBS, Straits Asia, Keppel Land, Capital Land, Singtel, SIA
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