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Banks, US rally help STI rise 1.3% this week

A FIRM week for the Straits Times Index (STI) ended on Friday with a mixed session that saw the index lose 2.73 points, a loss that limited the gain over the five days to 37 points or 1.3 per cent at 2,956.13, and the broad market record 203 rises versus 203 falls.

Banks have been the main driving force based on the thinking that higher interest rates mean wider margins. Also playing a part has been the government's declaration that it will provide financial support for the battered oil and gas (O&G)...

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