21.   In the absence of buying support for most bluechips, trading focused on second liners and speculative stocks, they said.

22.   Ishijima said the positive sentiment was also due to active trading in speculative stocks by retail investors who have accounted for much of recent trading.

23.   Investor sentiment was unstable especially on the back of instability among speculative stocks, brokers said.

24.   Activity by retail investors in speculative stocks remained sporadic, with time needed before these investors return in force, dealers said.

25.   Brokers said Innovest, which had been a highly speculative stock, could be undergoing some restructuring.

26.   Brokers said that purchases by pension funds were firm throughout the day while retail investors continued to focus on speculative stocks and brokerage dealers covered short positions.

27.   Brokers said the mixed performance of speculative stocks reflected sluggish activity in the broader market.

28.   Brokers said the slight upturn in sentiment was also attributable to the stable movement of speculative stocks following the sustained, sharp falls in recent trading.

29.   Brokers said retail investors had continued to dump positions built up in speculative stocks earlier in the year due to margin calls and expanding unrealised losses.

30.   Negative sentiment was sustained by weakness in speculative stocks and growing concerns over near-term demand and supply conditions.