Banks, window dressing lift STI

WEDNESDAY'S window-dressing push that saw the Straits Times Index (STI) jump higher in the final seconds and volume hit S$2 billion continued on Thursday, albeit with much less intensity - the index gained 25.14 points at 3,235.96 but volume dropped sharply down to 2.1 billion units worth S$1.3 billion.

Spurred by the index's gains, the broad market followed suit, eventually recording 269 rises versus 181 falls excluding warrants. Probably also helping were rises in Hong Kong and the Dow futures, the latter indicating a firm opening for Wall Street on Thursday.

Rises in the banks were the main contributors to the STI, with gains in Singtel, Jardine Matheson and Cycle & Carriage also notable.