Banks push STI up 0.9%

AN eighth consecutive all-time high for the Dow Jones Industrial Average on Tuesday triggered a large push on the local banks on Wednesday, propelling the Straits Times Index (STI) up 28.01 points or 0.91 per cent to 3,122.20.

The overall volume amounted to a decent 2.6 billion units worth S$1.47 billion.

The broad market, excluding warrants, recorded an advance-decline score of 290-196 - perhaps not as firm as the index's reading suggested. The unit value traded was S$0.57.

All three banks surged higher, with UOB the top performer, with a S$0.45 or 2.1 per cent jump to S$21.77 on…