Local traders say 'huat ah' on CNY eve

CHINESE New Year cheer was in the air, as Singapore stocks retraced their steps in a busy half-day session on Thursday.

The benchmark Straits Times Index (STI) closed up by 40.65 points, or 1.19 per cent, at 3,443.51 - erasing the previous day's 12.21-point slip.

The movement put the index up by 1.98 per cent for the week, and 1.19 per cent in the year to date.

It was the same happy story on the rest of the bourse, with gainers outnumbering losers 272 to 123, or just over two up for every one down.

About 1.1 billion shares worth S$1.04 billion changed hands.…