Fed-inspired STI rebound continues

THANKS to Wall Street's US Federal Reserve-inspired recovery, the Straits Times Index's rebound from its battering last week continued this week when it shot up 51.43 points or 1.6 per cent on Monday, though the rest of the market underwent a low-volume, low-volatility session that by now has become all too familiar to observers.

The jump came largely from gains in the banks, Keppel Corp and Jardine stocks and was most likely in anticipation of Wall Street enjoying a strong Monday.

Turnover, however, was a weak 1.5 billion units worth S$919 million and excluding warrants, there were 295 rises ve…