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Investor sentiment depressed by worries over start of Fed taperingTHE local bourse closed lower for the second straight day yesterday, bringing a sluggish week of trading to a lacklustre end.迷你倉The Straits Times Index lost 9.47 points or 0.3 per cent to 3,201.2 yesterday. For the week, the STI shed four points or 0.12 per cent.Although the penny stock market did slightly better, investor sentiment was dragged down by uncertainty over when the United States Federal Reserve will start tapering its stimulus programme.Other major Asian bourses put in a mixed performance with Japan's Nikkei 225 down 0.9 per cent and Hong Kong's Hang Seng Index up 0.2 per cent.Encouraging signals on China's factory activity last month led to a 0.4 per cent rise in the Shanghai Composite.Turnover on the local bourse was thin with 2.15 billion shares worth $819.8 million done.Some 234 counters rose while 150 fell and 418 were unchanged.Losses were led by Noble Group which fell four cents or 3.9 per cent to 99 cents. Maybank Kim Eng Research said it was not excited over the firm in the long term given the expected volumes and commodity prices. The company is expected to release third-quarter results on Nov 12.Olam International slid 4.5 cents儲存倉 nearly 3 per cent, to $1.495. Wholly owned Olam Australia sold its Dirranbandi cotton gin in Queensland to Cubbie Ginnery for A$20 million (S$23.5 million).Golden Agri-Resources shed one cent, 1.7 per cent, to 59 cents.DBS Group Holdings fell six cents or 0.4 per cent to $16.68. DBS made a record net interest income in the third quarter, lifting net profit to $862 million, up 1 per cent from a year earlier.OCBC fell four cents or 0.4 per cent to $10.36. The banking group reported a 59 per cent drop in quarterly net profit to $759 million from a year ago.SMRT slipped two cents or 1.5 per cent to $1.28. The transport operator posted a 56.8 per cent fall in second-quarter net profit to $14.4 million.Describing the results as below expectations, DBS Group Research maintained a "cautious stance" on the counter given higher costs, and expects a lower dividend from the firm given high capital expenditure needs.Penny stocks were actively traded on the local bourse; a surprise to market watchers given many of them have come under trading curbs by broking firms.Sky One topped the list with 281 million shares done, followed by Innopac Holdings with 142 million shares and Blumont Group with 127 million shares.anitag@sph.com.sg迷你倉最平